Currency USD/JPY is trading at 111.17. 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 the level of 110.50 is expected, where again we should expect an attempt to continue growth and further development of the upward trend in the pair of Dollar/Yen near the level of 114.70.
USD/JPY weekly forecast on July 30 — August 3, 2018
The conservative buying area is near the lower border of the Bollinger Bands indicator strip at 109.90. Canceling the option of continuing 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 108.00 area, which indicates a trend reversal in favor of the bearish 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.
