Currency USD/JPY is trading at 132.69. 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’s quotes are moving near the lower border of the Bollinger Bands indicator bands.
USD/JPY forecast Japanese Yen on August 12, 2022
As part of the forecast for the Dollar/Yen pair, a test of the level of 134.20 is expected. Where should we expect an attempt to continue the fall of the USD/JPY pair and further development of the downward trend. The target of this movement is the area near the level of 131.30. The conservative area for selling the USD/JPY pair is located near the upper border of the Bollinger Bands indicator bands at the level of 136.40.
Cancellation of the option to continue the fall of the Dollar/Yen pair will be a breakdown of the area of the upper border of the Bollinger Bands indicator bands. As well as a moving average with a period of 55 and the closing of the pair’s quotes above the area of 140.10. This will indicate a change in the current trend in favor of the bullish USD/JPY. In the event of a breakdown of the lower border of the Bollinger Bands indicator bands, we should expect an acceleration of the fall.
USD/JPY forecast Japanese Yen on August 12, 2022 suggests a test level of 134.20. Further, it is expected to continue falling to the area below the level of 131.30. The conservative sales area is located near the area 136.40. The cancellation of the USD/JPY pair fall option will be the breakdown of the level of 140.10. In this case, we should expect continued growth.