Currency USD/JPY is trading at 111.07. 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 test the lower border of the bands of the indicator Bollinger Bands. A test of the level of 112.00 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 110.00.
USD/JPY weekly forecast on January 15 — 19, 2018
The conservative sales area is located near the middle border of the Bollinger Bands indicator bars at 112.60. The abolition of the continuation of the fall of the Dollar/Yen pair will be a breakdown of the mid-range area of the Bollinger Bands indicator bars, as well as a moving average with a period of 55 and the closing of the pair quotes above the area of 113.40, 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.
