Currency USD/JPY is trading at 113.92. 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 test the upper boundary of the bars of the indicator Bollinger Bands. A test of level 113.30 is expected, where again one should expect an attempt to continue growth and further development of the upward trend in the pair Dollar/Yen near the level of 114.50.
USD/JPY forecast Japanese Yen on October 24, 2017
The conservative buying area is located near the lower border of the Bollinger Bands indicator strip at 112.20. The abolition of the continuation of the pair growth of the 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 quotations below the area of 111.90, 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.