USD/JPY forecast Japanese Yen on October 21, 2020

Currency USD/JPY is trading at 105.65. 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 October 21, 2020

As part of the forecast, the Dollar/Yen pair is expected to test the level of 105.50. 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 106.10. The conservative buying area for the USD/JPY pair is located near the lower border of the Bollinger Bands indicator bars at 105.20.
USD/JPY forecast Japanese Yen on October 21, 2020
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 104.60 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 October 21, 2020 suggests a test level of 105.50. Further, growth is expected to continue to the area above the level of 106.10. The conservative area for buying is located area of ​​105.20. The cancellation of the growth option for the USD/JPY pair will be the breakdown of the level of 104.60. In this case, we should expect the fall to continue.

Best Forex Brokers

Share This Post

Post Comment