Currency USD/JPY is trading at 109.48. 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 boundary of the bands of the indicator Bollinger Bands. A test of the level of 110.00 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 108.70.
USD/JPY forecast Japanese Yen on January 25, 2018
The conservative sales area is located near the middle border of the Bollinger Bands indicator strip at 110.60. 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 the area of 111.20, 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.