Currency USD/JPY is trading at 108.82. 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 move near the middle border of the bands of the indicator Bollinger Bands. A test of level 109.30 is expected, 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 February 1, 2018
The conservative sales area is located near the upper boundary of the Bollinger Bands indicator bars at 109.40. The abolition of the continuation of the fall of the US dollar pair 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 quotes above the 110.30 area, 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.