Currency USD/JPY is trading at 108.54. 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 quotes of the pair are moving near the upper border of the Bollinger Bands indicator stripes.
USD/JPY forecast Japanese Yen on June 3, 2020
As part of the forecast, the pair Dollar/Yen is expected to test the level of 108.20. Where can we expect an attempt to continue the growth of the pair USD/JPY and further development of the upward trend. The purpose of this movement is the area near the level of 109.40. The conservative buying area for the USD/JPY pair is located near the lower border of the Bollinger Bands indicator strip at 107.00.
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 of quotations of the pair below the area of 106.20. This will indicate a change in the current trend in favor of the bearish for USD/JPY. In case of breakdown of the upper border of the Bollinger Bands indicator bands, growth should be expected.
USD/JPY forecast Japanese Yen on June 3, 2020 suggests a test level of 108.20. Further, growth is expected to continue to the area above the level of 109.40. The conservative buying area is located is near the area of 107.00. The cancellation of the growth option for the USD/JPY pair will be the breakdown of the level of 106.20. In this case, we should expect continued fall.