Currency USD/JPY is trading at 113.22. Quotes of the pair are trading below the moving average with a period of 55, which indicates the presence of a bearish trend for the Dollar/Yen. At the moment, the pair quotes are moving near the middle border of the Bollinger Bands indicator bars. The test is expected to level 113.50, from which one can expect an attempt to continue the fall and further develop the downward trend with a target near the level 112.20.
USD/JPY forecast Japanese Yen on October 11, 2018
The conservative sales area is located near the upper boundary of the Bollinger Bands indicator bars at 113.90. Cancellation of the option to continue the fall of the pair Dollar/Yen will break the area of the upper border of the Bollinger Bands indicator, as well as the moving average with a period of 55 and close the pair quotes above the area of 114.50, indicating a change in 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.