Currency USD/JPY is trading at 107.03. 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 quotes of the pair move near the upper border of the Bollinger Bands indicator bars. A test of the level 107.70 is expected, from which one should expect an attempt to continue the fall and further development of a downward trend with a target near level 104.20.
USD/JPY weekly forecast on April 9 — 13, 2018
The conservative sales area is located near the upper boundary of the Bollinger Bands indicator bands at 107.60. The abolition of the continuation of the fall of the pair of the 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 quotations above 109.20, which indicates a change in the trend in favor of the bullish 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.
