Currency USD/JPY is trading at 149.37. 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’s quotes are moving near the upper border of the Bollinger Band indicator bands.
USD/JPY forecast Japanese Yen on October 20, 2022
As part of the forecast for the Dollar/Yen pair, a test of the level of 148.70 is expected. Where should we expect an attempt to continue the growth of the USD/JPY pair and further development of the upward trend. The target of this movement is the area near the level of 151.70. The conservative area for buying the USD/JPY pair is located near the lower border of the Bollinger Bands indicator at the level of 147.70.
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 a moving average with a period of 55 and closing quotes of the pair below the area of 145.20. This will indicate a change in the current trend in favor of the bearish for USD/JPY. In the event 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 October 20, 2022 suggests a test level of 148.70. Further growth is expected to continue to the area above the level of 151.70. The conservative area for buying is located area of 147.70. Cancellation of the growth option for the USD/JPY pair will be a breakdown of the level of 145.20. In this case, we should expect the continuation of the fall.