Currency USD/JPY is trading at 109.72. Quotes of the pair are trading above the moving average with a period of 55. This indicates the presence of a bullish trend for the pair Dollar/Yen. At the moment, the pair quotes are moving near the middle border of the Bollinger Bands indicator bars.
USD/JPY forecast Japanese Yen on February 8, 2019
As part of the forecast of the pair Dollar/Yen is expected to test level 109.72. Where can we expect an attempt to continue the growth of the pair USD/JPY and the further development of the upward trend. The purpose of this movement is the area near the level of 110.70. The conservative area for buying of USD/JPY is located near the lower border of the Bollinger Bands indicator at 109.50.
Cancellation of the option to continue the growth of the pair Dollar/Yen will be the breakdown of the area of the lower border of the Bollinger Bands indicator bands. As well as a moving average with a period of 55 and closing quotes pair below 109.00 area. This will indicate a change in the current 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.
USD/JPY forecast Japanese Yen on February 8, 2019 implies test level of 109.72. Further growth is expected to continue to the area above 110.70. The conservative buying area is located is near the area of 109.50. The cancellation of the growth of the pair USD/JPY will be the breakdown level of 109.00. In this case, we should expect the continuation of the fall.
