Currency pair USD/JPY is trading at 112.95. 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. A fall to the area of the middle border of the indicator strip 112.25 is expected, where again we should expect an attempt to continue growth with the target near the level of 113.53.
Bollinger Bands forecast USD JPY on July 4, 2017
The conservative shopping area is near the lower border of the Bollinger Bands indicator strip at 111.65. The abolition 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 area of 111.20, indicating 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.