USD/JPY forecast Japanese Yen on October 7, 2020

Currency USD/JPY is trading at 105.62. 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 October 7, 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 106.15. The conservative buying area for the USD/JPY pair is located near the lower border of the Bollinger Bands indicator strip at 105.30.

USD/JPY forecast Japanese Yen on October 7, 2020

Cancellation of the option to continue the growth of the Dollar/Yen pair will be a breakdown 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 ​​104.10. 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 October 7, 2020 suggests a test level of 105.50. Further, growth is expected to continue to the area above the level of 106.15. The conservative area for buying is located area of ​​105.30. The cancellation of the growth option for the USD/JPY pair will be the breakdown of the level of 104.10. In this case, we should expect the fall to continue.


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