Currency USD/JPY is trading at 133.39. 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 quotes of the pair are moving near the middle border of the Bollinger Bands indicator bands.
USD/JPY forecast Japanese Yen on August 16, 2022
As part of the forecast for the Dollar/Yen pair, a test of the level of 133.80 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 131.40. The conservative selling area for the USD/JPY pair is located near the upper border of the Bollinger Bands indicator at 134.30.
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 138.50 area. 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 16, 2022 suggests a test level of 133.80. Further, it is expected to continue falling to the area below the level of 131.40. The conservative selling area is located area of 134.30. Cancellation of the USD/JPY pair fall option will be a breakdown of the level of 138.50. In this case, we should expect continued growth.
