USDJPY is trading at 115.78; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s upside border at 115.60 and then resume moving upwards to reach 117.05. Another signal in favour of a further uptrend will be a rebound from the rising channel’s downside border.
However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 114.85. In this case, the pair may continue falling towards 113.95. To confirm further growth, the asset must break the descending channel’s upside border and fix above 115.95.
Orgin: RoboForex
