Currency USD/JPY is trading at 111.05. Quotations of the pair are traded above the moving average with a period of 55, which indicates the existence of a bullish trend for the Dollar/Yen. At the moment, quotes of the pair move near the middle border of the bands of the indicator Bollinger Bands. A level test of 110.90 is expected, from which we again expect an attempt to continue growth and further development of the upward trend in the Dollar/Yen pair near the level of 111.80.
USD/JPY forecast Japanese Yen on August 29, 2018
The conservative buying area is near the lower border of the Bollinger Bands indicator strip at 110.80. The cancellation of the continuation of the growth of the pair Dollar/Yen will be a breakdown of the lower border of the Bollinger Bands indicator strip, as well as a moving average with a period of 55 and the closing of the pair quotes below the 109.00 area, which indicates a change in the bearish trend for USD/JPY. In the event of breakdown of the upper boundary of the bands of the indicator Bollinger Bands, one should expect an acceleration of growth.
