Currency USD/JPY is trading at 114.08. Quotes 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 upper border of the bands of the Bollinger Bands indicator. A test of the level of 113.70 is expected, where again we should expect an attempt to continue growth and further development of the upward trend in the pair Dollar/Yen near the level of 114.65.
USD/JPY forecast Japanese Yen on November 3, 2017
The conservative buying area is located near the lower border of the Bollinger Bands indicator strip at 112.95. Canceling the option of continuing the growth of the pair Dollar/Yen 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 quotes below the area of 112.70, 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.