Currency USD/JPY is trading at 113.02. 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, quotes of the pair move near the middle border of the bands of the Bollinger Bands indicator. A test of the level of 112.80 is expected, where again we should expect an attempt to continue growth and further development of the upward trend for the Dollar/Yen pair near the level of 113.80.
USD/JPY forecast Japanese Yen on January 9, 2018
The conservative buying area is located near the middle border of the Bollinger Bands indicator strip at 112.70. Canceling the option of continuing the growth of the Dollar/Yen pair will be a breakdown of the mid-range area of the Bollinger Bands indicator strip, as well as a moving average with a period of 55 and the closing of the pair quotes below the 112.30 area, 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.
