Currency USD/JPY is trading at 110.68. 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, the quotes of the pair move near the upper border of the Bollinger Bands indicator bars. A test of the level of 110.00 is expected, where again we should expect an attempt to continue growth and further development of the upward trend for the Dollar/Yen pair near the level of 112.80.
USD/JPY weekly forecast on July 2 — 6, 2018
The conservative buying area is near the lower border of the Bollinger Bands indicator strip at 109.50. 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 the pair quotes below the area of 108.20, which indicates 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.
