Currency pair USD/JPY is trading at 113.90. The pair is trading above the moving average with a period of 55, indicating a bullish trend for the Dollar/Yen. At the moment, quotes of the pair test the upper boundary of the bands of the Bollinger Bands indicator. An insignificant correction is expected near the level of 113.27, where again we should expect an attempt to continue growth and further development of the uptrend near the level of 114.40.
Bollinger Bands forecast USD JPY on July 10, 2017
The conservative area for USD/JPY pair buying is near the lower border of the Bollinger Bands indicator bars at 112.80. The cancellation of the continuation of the growth of the Dollar/Yen 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’s quotes below the 112.35 area, which indicates a change in the bearish trend for USD/JPY. In the event of a breakdown of the upper boundary of the bands of the Bollinger Bands indicator, it is expected to accelerate growth.
