USDJPY is trading at 107.17; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 107.00 and then resume moving upwards to reach 107.75. Another signal is favor of further uptrend will be a rebound from the upside border of the Triangle pattern.
However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 106.55. In this case, the pair may continue falling towards 105.65.
Orgin: RoboForex
