Currency USD/JPY is trading at 111.86. 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 March 7, 2019
As part of the forecast, the pair Dollar/Yen is expected to test the level of 111.60. 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 113.00. The conservative buying area for the USD/JPY pair is located near the lower border of the Bollinger Bands indicator at 111.140.
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 the moving average with a period of 55 and the closing of quotations of the pair below 110.30. 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 March 7, 2019 implies test level of 111.60. Further growth is expected to continue to the area above the level of 113.00. The conservative buying area is located is near the area of 111.14. The cancellation of the growth of the pair USD/JPY will be the breakdown of the level of 110.30. In this case, we should expect the continuation of the fall.
