Currency USD/JPY is trading at 109.70. 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 test of level 109.40 is expected, from which we again expect an attempt to continue growth and further development of the upward trend for the Dollar/Yen pair near the level of 110.60.
USD/JPY forecast Japanese Yen on May 10, 2018
The conservative buying area is near the lower border of the Bollinger Bands indicator strip at 108.60. The cancellation of the continuation of the growth of the Dollar/Yen pair will be a breakdown of the lower border of the Bollinger Bands indicator bands, as well as a moving average with a period of 55 and the closing of the pair quotations below the 108.10 area, which indicates 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.