Currency USD/JPY is trading at 106.83. 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 are moving near the lower border of the bands of the Bollinger Bands indicator. A test of level 108.00 is expected, from which one should expect an attempt to continue falling and further development of a downward trend with a target near the level of 104.30.
USD/JPY weekly forecast on February 26 — March 2, 2018
The conservative sales area is located near the middle border of the Bollinger Bands indicator bars at 108.40. The abolition of the continuation of the fall of the Dollar/Yen will be a breakdown of the mid-range area of the Bollinger Bands indicator strips, as well as a moving average with a period of 55 and the closing of the pair quotes above 110.20, 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.
