Currency USD/JPY is trading at 113.91. Quotes 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 upper border of the bands of the Bollinger Bands indicator. A test of the level of 113.10 is expected, where again one should expect an attempt to continue growth and further development of the upward trend in the pair Dollar/Yen near the level of 115.60.
USD/JPY weekly forecast on November 6 — 10, 2017
The conservative buying area is located near the lower border of the Bollinger Bands indicator strip at 111.65. The cancellation of the continuation of the growth of the Dollar/Yen pair will be a breakdown of the lower border of the Bollinger Bands indicator bands, as well as a moving average with a period of 55 and the closing of the pair quotes below the area of 110.90, 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.