Currency USD/JPY is trading at 108.64. 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 upper border of the Bollinger Bands indicator bands.
USD/JPY forecast Japanese Yen on July 9, 2019
As part of the forecast of the Dollar/Yen pair is expected to test the level of 108.40. 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 109.50. The conservative area for purchases of USD/JPY is located near the lower border of the Bollinger Bands indicator at 107.40.
Cancellation of the option to continue the growth of the Dollar/Yen pair will be a breakdown of the area of the lower border of the Bollinger Bands indicator bands. As well as the moving average with a period of 55 and closing quotes pair below 107.20 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 July 9, 2019 suggests a test level of 108.40. Further growth is expected to continue to the area above the level of 109.50. The conservative buying area is located is near the area of 107.40. The cancellation of the growth of the pair USD/JPY will be the breakdown of the level of 107.20. In this case, we should expect the continuation of the fall.