traders will focus on Japan’s flash Nikkei manufacturing purchasing managers’ index (PMI), slated to release next week.
CURRENCY TRADERS The Japanese Yen insight Currency pair USD/JPY US Dollar to Japanese Yen is trading at 112.75. The pair is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a downward trend in the Dollar/Yen pair. The test area of Ichimoku Kinko Hyo signal lines is expected near the level of 113.05, from which it is expected to attempt a rebound and continue the development of the bearish trend with the target of falling near the level of 111.70.
Previously, a strong signal was received for the sell of the Dollar/Yen pair, due to the crossing of the signal lines at the level of 113.55. The cancellation of the fall of the pair quotes will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotations above the area of 113.90, which indicates a change in the bearish trend in favor of the bullish trend. Expect to accelerate the fall in USD/JPY quotations with a level breakdown of 112.30