Currency USD/JPY is trading at 112.81. 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 pair quotes are moving near the middle border of the Bollinger Bands indicator bars. A test of the level of 111.80 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 114.80.
USD/JPY weekly forecast on November 5 — 9, 2018
The conservative buying area is near the lower border of the Bollinger Bands indicator strip at 111.70. Cancellation of the option to continue the growth of the pair Dollar/Yen will break the area of the lower border of the Bollinger Bands indicator, as well as the moving average with a period of 55 and close the pair quotes below the 108.00 area, indicating a change in trend in favor of the bearish for USD/JPY. In case of a breakdown of the upper border of the Bollinger Bands indicator bands, one should expect an acceleration of growth.