Currency pair US Dollar to Japanese Yen USD/JPY is trading at 113.453. The pair is trading above the upper boundary of the Ichimoku Kinko Hyo Cloud, which indicates an upward trend in the pair US Dollar to Japanese Yen. The Ichimoku Kinko Hyo Cloud upper boundary test is expected near the level of 113.200, from which one should expect an attempt of growth and further development of the bullish tendency for the pair with the purpose of growth near the level of 114.900.
USD/JPY forecast Dollar to Japanese Yen on May 16, 2017
Earlier, a weak signal was received for the sale of the pair US Dollar to Japanese Yen, due to the crossing of the signal lines at the level of 113.640. The cancellation of the variant of growth of quotations of the pair will be a breakdown of the lower boundary of the Cloud of Ichimoku Kinko Hyo with the closing of quotations below the area of 112.600, which will indicate a change in the bullish trend in favor of the bearish trend. Expect to accelerate the growth of quotations USD/JPY is with the breakdown of the local maximum area at 114.400.