Currency USD/JPY is trading at 109.13. 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 level test of 110.50 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 of 106.20.
USD/JPY weekly forecast on February 12 — 16, 2018
The conservative sales area is located near the upper boundary of the Bollinger Bands indicator bars at 111.40. The abolition of the continuation of the fall of the pair of 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 quotes above the area of 112.80, 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.
