Currency USD/JPY is trading at 114.03. 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 upper border of the Bollinger Bands indicator bars. A test of the level of 112.80 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 117.50.
USD/JPY weekly forecast on October 8 — 12, 2018
The conservative buying area is near the lower border of the Bollinger Bands indicator strip at 110.80. 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 area of 108.00, 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.