Currency USD/JPY is trading at 109.21. Quotations of the pair are traded above the moving average with a period of 55, which indicates the existence of a bullish 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 test of the level of 108.70 is expected, from which we again expect an attempt to continue growth and further development of the upward trend for the Dollar/Yen pair near the level of 111.50.
USD/JPY weekly forecast on May 14 — 18, 2018
The conservative buying area is located near the middle border of the Bollinger Bands indicator bars at 108.60. The cancellation of the continuation of the growth of the pair 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 below the 106.80 area, indicating a change in the bearish trend for USD/JPY. In the event of breakdown of the upper boundary of the bands of the indicator Bollinger Bands, one should expect an acceleration of growth.