Currency USD/JPY is trading at 112.54. 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, quotes of the pair test the lower boundary of the bands of the indicator Bollinger Bands. A test of level 112.90 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 110.90.
USD/JPY weekly forecast on November 20 — 24, 2017
The conservative sales area is located near the upper boundary of the Bollinger Bands indicator bars at 113.40. The abolition of the continuation of the fall pair 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 the area of 114.90, 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.
