Currency USD/JPY is trading at 113.51. 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 weekly forecast on December 17 — 21, 2018
As part of the forecast of Dollar/Yen is expected to test the level of 112.90. Where can we expect an attempt to continue the growth of the pair USD/JPY and the further development of the upward trend. The purpose of this movement is the area near the level of 115.30. The conservative area for buying of USD/JPY is located near the lower border of the Bollinger Bands indicator at 112.40.
Cancellation of the option of continuing the growth of the Dollar/Yen pair will be a breakdown of the lower border of the Bollinger Bands indicator. As well as a moving average with a period of 55 and closing quotes pair below 111.50. This will indicate a change in the current trend in favor of the bearish 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 weekly forecast on December 17 — 21, 2018 suggests a test level of 112.90. Further growth is expected to continue to the area above 115.30. The conservative buying area is located is near the area of 112.40. The cancellation of the growth of the pair USD/JPY will be the breakdown level of 111.50. In this case, we should expect the continuation of the fall.