Currency USD/JPY is trading at 109.45. Quotes of the pair are traded below the moving average with a period of 55, which indicates the presence of a bearish trend for the Dollar/Yen. At the moment, quotes of the pair test the average border of the bars of the indicator Bollinger Bands. An insignificant correction is expected near the level of 109.90, from which one should expect an attempt to continue the fall and further development of a downward trend with a target near the level of 107.30.
USD/JPY forecast Japanese Yen on August 23, 2017
The conservative sales area is located near the upper boundary of the Bollinger Bands indicator strip at 110.15. The abolition of the continuation of the fall of the pair of the Dollar/Yen will be a breakdown of the upper range of the Bollinger Bands indicator bands, as well as a moving average with a period of 55 and the closing of the pair quotations above the area of 110.80, indicating a change in the bullish trend for USD/JPY. In the event of a breakdown of the lower boundary of the bands of the Bollinger Bands indicator, it is expected to accelerate the fall.