Currency USD/JPY is trading at 107.34. 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 testing the upper boundary of the Bollinger Bands indicator bars. A test of the level of 107.00 is expected, from which we again expect an attempt to continue growth and further development of the upward trend in the pair of Dollar/Yen near the level of 108.10.
USD/JPY forecast Japanese Yen on April 6, 2018
The conservative buying area is located near the lower border of the Bollinger Bands indicator strip at 105.70. The cancellation of the continuation of the growth of the Dollar/Yen pair 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 105.30 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.
