Currency USD/JPY is trading at 110.98. 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 test the upper boundary of the bars of the indicator Bollinger Bands. A test of level 110.40 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 May 21 — 25, 2018
The conservative buying area is located near the middle border of the Bollinger Bands indicator bars at 109.60. The cancellation of the continuation of the growth of the Dollar/Yen pair will be a breakdown of the mid-range area of the Bollinger Bands indicator bars, as well as a moving average with a period of 55 and the closing of the pair quotes below the area of 108.70, 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.
