Currency USD/JPY is trading at 110.60. 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 lower border of the bands of the indicator Bollinger Bands. A test of the level of 111.20 is expected, from which one should expect an attempt to continue falling and further development of a downward trend with a target near the level of 110.00.
USD/JPY forecast Japanese Yen on January 16, 2018
The conservative sales area is located near the middle border of the Bollinger Bands indicator bars at 111.40. The abolition of the continuation of the fall of the Dollar/Yen pair will be a breakdown of the mid-range area of the Bollinger Bands indicator bars, as well as a moving average with a period of 55 and the closing of the pair quotes above 112.20, 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.