USD/JPY forecast Japanese Yen on March 31, 2021

Currency USD/JPY is trading at 110.24. 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 bars.

USD/JPY forecast Japanese Yen on March 31, 2021

As part of the forecast, the Dollar/Yen pair is expected to test the level of 109.50. Where can we expect an attempt to continue the growth of the USD/JPY pair and the further development of the upward trend. The purpose of this movement is the area near the level of 111.20. The conservative buying area for the USD/JPY pair is located near the lower border of the Bollinger Bands indicator strip at 108.90.

USD/JPY forecast Japanese Yen on March 31, 2021

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 bars. As well as the moving average with a period of 55 and closing of quotations of the pair below the area of ​​106.50. 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, we should expect an acceleration of growth.

USD/JPY forecast Japanese Yen on March 31, 2021 suggests a test level of 109.50. Further, growth is expected to continue to the area above the level of 111.20. The conservative area for buying is located area of ​​108.90. The cancellation of the growth option for the USD/JPY pair will be the breakdown of the level of 106.50. In this case, we should expect a continuation of the fall.


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