Currency USD/JPY is trading at 112.80. Quotes of the pair are trading above the moving average with a period of 55, which indicates the presence 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. The test is expected to be at the level of 112.50, from where we again expect an attempt to continue the growth and further development of the upward trend for the Dollar/Yen pair near the level of 113.50.
USD/JPY forecast Japanese Yen on October 23, 2018
The conservative buying area is near the lower border of the Bollinger Bands indicator strip at 112.10. Cancellation of the option to continue the growth of the pair Dollar/Yen will be a breakdown of the lower border of the Bollinger Bands indicator strip, as well as the moving average with a period of 55 and closing of the pair quotes below the 112.00 area, which will indicate 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.