Currency USD/JPY is trading at 112.40. 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 lower border of the Bollinger Bands indicator bands.
USD/JPY forecast Japanese Yen on November 21, 2018
As part of the forecast, the pair Dollar/Yen is expected to test the level of 112.70. Where should we expect an attempt to continue the fall of the USD/JPY pair and further development of the downward trend. The purpose of this movement is the area near the level 111.80. The conservative area for sales of the USD/JPY pair is located near the upper border of the Bollinger Bands indicator strip at the level of 113.60.
Cancellation of the option to continue the fall of the pair Dollar/Yen will be the breakdown of the area of the upper border of the Bollinger Bands indicator. As well as the moving average with a period of 55 and closing quotations of the pair above the 114.00 area. 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.
Thus, USD/JPY forecast Japanese Yen on November 21, 2018 implies a test level of 112.70. Further expected to continue falling into the area below the level of 111.80. The conservative selling zone is near the 113.60 area. The cancellation of the fall in the USD/JPY pair will be the breakdown level of 114.00. In this case, we can expect continued growth.