Currency USD/JPY is trading at 112.39. 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 111.50 is expected, where again one should expect an attempt to continue growth and further development of the upward trend for the Dollar/Yen pair near the level of 115.30.
USD/JPY weekly forecast on July 23 — 27, 2018
The conservative buying area is near the lower border of the Bollinger Bands indicator strip at 109.20. The cancellation of the continuation of the growth of the Dollar/Yen pair 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 quotations below the 108.10 area, 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.
