Currency USD/JPY is trading at 108.32. Quotes of the pair are trading below the moving average with a period of 55. This indicates the presence of a bearish trend for the pair Dollar/Yen. At the moment, the pair quotes are moving near the middle border of the Bollinger Bands indicator bands.
USD/JPY forecast Japanese Yen on January 8, 2019
As part of the forecast, the pair Dollar/Yen is expected to test the level of 109.40. Where should we expect an attempt to continue the fall of the pair USD/JPY and further development of the downward trend. The purpose of this movement is the area near the level of 106.30. The conservative area for sales of the USD/JPY pair is located near the upper border of the Bollinger Bands indicator at 109.50.
Cancellation of the option to continue the fall of the pair Dollar/Yen will be a breakdown of the area of the upper border of the Bollinger Bands indicator. As well as a moving average with a period of 55 and closing quotations of the pair above 110.50. This will indicate a change in the current trend in favor of bullish for USD/JPY. In case of a breakdown of the lower border of the Bollinger Bands indicator bands, one should expect an acceleration of the fall.
USD/JPY forecast Japanese Yen on January 8, 2019 suggests a test level of 109.40. Further, the continuation of falling to the area below the level of 106.30 is expected. The conservative sale area is located is near the area of 109.50. Cancellation of the fall of the pair USD/JPY will be the breakdown of the level of 110.50. In this case, we can expect continued growth.