Currency pair USD/JPY US Dollar to Japanese Yen is trading at 112.73. The pair is trading above the upper boundary of the Ichimoku Kinko Hyo Cloud, which indicates an upward trend in the Dollar/Yen pair. The test of the upper boundary is expected. Ichimoku Kinko Hyo indicator cloud near the level 112.25, where we can expect an attempt of growth and further development of the bullish trend with the target near the level of 113.90.
Japanese Yen forecast USD/JPY on October 4, 2017
Earlier, a strong signal was received for the buy of the Dollar/Yen pair, due to the crossing of the signal lines at 112.00. The cancellation of the growth of the pair’s quotations will be a breakdown of the lower boundary of the Cloud of Ichimoku Kinko Hyo with the closing of quotations below the area of 111.85, 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 upper boundary of the channel and the closing above the level of 114.20.