Currency USD/JPY is trading at 109.51. 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 108.70 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 111.60.
USD/JPY weekly forecast on June 4 — 8, 2018
The conservative buying area is near the lower border of the Bollinger Bands indicator strip at 108.30. The cancellation of the continuation of the pair growth of the 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 107.20 area, 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.
