Currency USD/JPY is trading at 110.80. 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 level 110.00 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 114.50.
USD/JPY weekly forecast on September 3 — 7, 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.
