Currency USD/JPY is trading at 106.18. 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, quotes of the pair move near the middle border of the bands of the indicator Bollinger Bands. A test of level 107.20 is expected, from which one should expect an attempt to continue the fall and further development of a downward trend with a target near the level of 102.90.
USD/JPY weekly forecast on April 2 — 6, 2018
The conservative sales area is located near the upper boundary of the Bollinger Bands indicator bars at 107.30. The abolition of the continuation of the fall of the Dollar/Yen pair 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 quotations above the area of 109.60, indicating 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.
