Currency USD/JPY is trading at 112.69. Quotes of the pair are traded above the moving average with a period of 55, which indicates the existence of a bullish trend for Dollar/Yen. At the moment, quotes of the pair test the average border of the bands of the indicator Bollinger Bands. An insignificant correction is expected near the level of 112.40, where again we should expect an attempt to continue growth near the level of 114.40.
USD/JPY forecast Japanese Yen on October 5, 2017
The conservative buying area is located near the lower border of the Bollinger Bands indicator strip at 112.30. The cancellation of the continuation of the growth of the Dollar/Yen pair will be a breakdown of the lower 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 area 111.80, 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.