Currency USD/JPY is trading at 110.38. Quotes of the pair are traded below the moving average with a period of 55, indicating a bearish trend for the pair Dollar/Yen. At the moment, the quotes of the pair are moving near the lower border of the bands of the Bollinger Bands indicator. A test of level 111.80 is expected, from which one should expect an attempt to continue the fall and further development of a downward trend with a target near the level of 107.50.
USD/JPY weekly forecast on August 20 — 24, 2018
The conservative sales area is located near the upper boundary of the Bollinger Bands indicator bars at 111.90. The cancellation of the continuation of the fall of the pair Dollar/Yen will be a breakdown of the upper range of the Bollinger Bands indicator bands, as well as a moving average with a period of 55 and the closing of the pair quotes above 113.00, which indicates a change in the bullish trend for USD/JPY. In the event of a breakdown of the lower boundary of the bands of the Bollinger Bands indicator, it is expected to accelerate the fall.
