Currency USD/JPY is trading at 113.69. 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, the pair quotes are moving near the upper border of the Bollinger Bands indicator bars. A test of the level of 113.40 is expected, where again one should expect an attempt to continue growth and further development of the upward trend for the Dollar/Yen pair near the level of 114.40.
USD/JPY forecast Japanese Yen on November 9, 2018
The conservative buying area is near the lower border of the Bollinger Bands indicator strip at 113.00. Cancellation of the option to continue the growth of the pair Dollar/Yen will break the area of the lower border of the Bollinger Bands indicator, as well as the moving average with a period of 55 and close the pair quotes below the 112.00 area, indicating a change in trend in favor of the bearish for USD/JPY. In case of a breakdown of the upper border of the Bollinger Bands indicator bands, one should expect an acceleration of growth.