Currency USD/JPY is trading at 106.89. 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 average border of the bands of the indicator Bollinger Bands. A test of level 108.10 is expected, from which one should expect an attempt to continue the fall and further development of the downward trend with a target near the level of 103.50.
USD/JPY weekly forecast on March 12 — 16 2018
The conservative sales area is located near the middle border of the Bollinger Bands indicator bars at 108.30. The abolition of the continuation of the fall 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 quotes above 110.10, 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.
