Currency USD/JPY is trading at 114.05. 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 lower boundary of the Bollinger Bands indicator stripes.
USD/JPY forecast Japanese Yen on October 22, 2021
As part of the forecast of the vapor, the dollar is expected to test the level 113.60. Where to expect an attempt to continue the growth of the USD/JPY pair and the further development of the upward trend. The purpose of such a movement is the area near the level 115.30. The conservative shopping area of the USD/JPY pair is located near the bottom boundary of the Bollinger Bands indicator lanes at 113.50.
Cancellation of the continuation of the growth of the pair of the dollar of the yen will be a breakdown area of the lower boundary of the Bollinger Bands indicator stripes. And also a moving average with a period of 55 and the closure of the pair quotes below region 112.30. This will indicate a change in the current trend in favor of bearish on USD/JPY. In the event of a breakdown of the top border, the Bollinger Bands indicator strips should expect growth acceleration.
USD/JPY forecast Japanese Yen on October 22, 2021 suggests a test level of 113.60. Further, growth is expected to continue to the area above the level of 115.30. The conservative area for buying is located area of 113.50. The cancellation of the growth option for the USD/JPY pair will be the breakdown of the level of 112.30. In this case, we should expect a continuation of the fall.