Currency USD/JPY is trading at 112.75. The average line of the indicator is below the moving average with a period of 55, indicating a bearish trend for the Yen/Dollar. At the moment, quotes of the pair test the lower boundary of the bands of the indicator Bollinger Bands. A test of level 113.10 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 112.20.
USD/JPY forecast Japanese Yen on November 16, 2017
The conservative sales area is located near the upper border of the Bollinger Bands indie bands at 113.90. The cancellation of the option of continuing the fall of the Yen Dollar pair will be a breakdown of the upper range of the Bollinger Bands indicator bands, as well as a moving average with a period of 55 and the closing of the pair quotations above the area of 114.10, which will indicate 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.