Currency USD/JPY is trading at 110.54. 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. An insignificant correction is expected near the level of 111.90, from which one should expect an attempt to continue the fall and further development of the downward trend with the target near the level of 107.20.
USD/JPY weekly forecast on July 31 – August 4, 2017
The conservative sales area is located near the upper border of the Bollinger Bands indicator strip at the level of 114.60. 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’s quotes above 115.20, 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.