The currency pair US Dollar to Japanese Yen USD/JPY is trading at 113.338. The pair continues to trade above the upper boundary of the Ichimoku Kinko Hyo Cloud, which indicates an bullish trend in the pair US Dollar to Japanese Yen. The Ichimoku Kinko Hyo Cloud upper limit test is expected near the 112.900 level, from which one should expect an attempt of growth and further development of the bullish tendency for the pair with a target of growth near the level of 114.900.
USD/JPY forecast Japanese Yen on May 16, 2017
Earlier, a weak signal was received for buy of the pair US Dollar to Japanese Yen, due to the crossing of signal lines Ichimoku Kinko Hyo at the level of 108.770. The cancellation of the growth of the pair’s quotations will be the breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotations below the 112.500 area, which will indicate a change in the bullish trend in favor of the downtrend. Expect to accelerate the growth of quotations USD/JPY is with the breakdown of the local maximum area at 114.400.
