Currency pair US Dollar to Japanese Yen USD/JPY is trading at 111.437. The pair USD/JPY continues to trade below the lower boundary of the Cloud Ichimoku Kinko Hyo, which indicates the presence of a bearish trend in the pair US Dollar to Japanese Yen USD/JPY. It is expected to test the area of signal lines near the level of 111.900, from which it is expected to attempt a fall and further development of the bearish trend for the pair USD/JPY with a view to lower near the level 108.700.
USD/JPY forecast & analysis on May 22, 2017
Earlier, a weak signal was received for the sale of the US Dollar to Japanese Yen, due to the crossing of the signal lines at the level 113.640. Cancellation of the fall of the pair USD/JPY quotations will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the area of 112.800, which will indicate a change in the bearish trend in favor of the bullish trend. Expect to accelerate the fall in USD/JPY quotations with a breakdown of the local minimum area at 109.300.