Currency USD/JPY is trading at 112.43. Quotes of the pair are traded above the moving average with a period of 55, which indicates the existence of a bullish trend for the Dollar/Yen. At the moment, quotes of the pair move near the middle border of the bands of the Bollinger Bands indicator. A test of level 112.20 is expected, where again one should expect an attempt to continue growth and further development of the upward trend in the pair Dollar/Yen near the level of 114.50.
USD/JPY weekly forecast on December 4 — 8, 2017
The conservative buying area is located near the lower border of the Bollinger Bands indicator strip at 110.80. 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 quotes below the area of 110.20, indicating 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.