Currency USD/JPY is trading at 110.09. 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 quotes of the pair move near the upper border of the Bollinger Bands indicator bars. A level test of 109.50 is expected, where again one should expect an attempt to continue growth and further development of the upward trend in the Dollar Yen pair near the level of 111.40.
USD/JPY forecast Japanese Yen on February 5, 2018
The conservative buying area is located near the middle border of the Bollinger Bands indicator strip at 109.40. The cancellation of the continuation of the growth of the Dollar/Yen pair will be a breakdown of the mid-range area of the Bollinger Bands indicator strips, as well as a moving average with a period of 55 and the closing of the pair quotes below the area of 108.70, 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.