USDJPY, “US Dollar vs Japanese Yen”
USDJPY has gained a foothold above the upper boundary of the descending channel. The pair is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Cloud’s upper boundary at 155.60 is expected, followed by a rise to 159.55. An additional signal confirming the rise will be a rebound from the upper boundary of the bearish channel. The scenario could be cancelled by a breakout of the lower boundary of the Cloud, with the price securing below 153.60, which will signal a further decline to 152.70.
Origin: RoboForex
