Currency USD/JPY is trading at 111.57. Quotations of the pair are traded above the moving average with a period of 55, which indicates the existence of a bullish trend for the Dollar/Yen. At the moment, quotes of the pair move near the middle border of the bands of the indicator Bollinger Bands. A test of level 110.70 is expected, from which it is again expected to try to continue growth and further develop the upward trend in the pair of the Dollar/Yen near the level of 115.40.
USD/JPY weekly forecast on August 6 — 10, 2018
The conservative buying area is near the lower border of the Bollinger Bands indicator strip at 110.40. The abolition of the continuation of the growth of the pair Dollar/Yen will be a breakdown of the lower border of the Bollinger Bands indicator bands, as well as a moving average with a period of 55 and the closing of quotations of the pair below the area of 108.50, indicating a change in the bearish trend for USD/JPY. In the event of breakdown of the upper boundary of the bands of the indicator Bollinger Bands, one should expect an acceleration of growth.
