Currency USD/JPY is trading at 109.11. Quotations 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, quotes of the pair test the lower border of the bands of the indicator Bollinger Bands. An insignificant correction is expected near the level of 109.60, from which one should expect an attempt to continue falling and further development of the downward trend with the target near the level of 108.10.
USD/JPY forecast Japanese Yen on September 6, 2017
The conservative sales area is located near the upper boundary of the Bollinger Bands indicator strip at 110.50. The cancellation of the continuation of the fall of the pair of the Dollar/Yen will be a breakdown of the upper boundary 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 the of 111.10, which indicates a change in the trend in favor of the bullish on 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.
