Currency USD/JPY is trading at 111.38. The pair is trading above the moving average with a period of 55, indicating a bullish trend for Dollar/Yen. At the moment, the pair quotes are testing the upper boundary of the Bollinger Bands indicator bars. An insignificant correction is expected near the level of 110.80, where again we should expect an attempt to continue growth near the level of 112.30.
USD/JPY forecast Japanese Yen on September 19, 2017
The conservative buying area is located near the lower border of the Bollinger Bands indicator strip at 109.90. 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 quotations below the 109.30 area, 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.