Currency USD/JPY is trading at 108.80. Quotes of the pair are traded below the moving average with a period of 55, which indicates the presence of a bearish trend for the Dollar/Yen. At the moment, the pair quotes are moving near the middle border of the Bollinger Bands indicator strip border. An insignificant correction is expected near the level of 109.30, from which one should expect an attempt to continue falling and further development of a downward trend with a target near the level of 106.80.
USD/JPY forecast Japanese Yen on September 12, 2017
The conservative sales area is located near the upper boundary of the Bollinger Bands indicator bars at 109.50. The abolition of the continuation of the fall of the pair Dollar/Yen 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 quotes above 110.20, which indicates 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.