Currency pair USD/JPY is trading at 113.26. The pair is trading above the moving average with a period of 55, indicating a bullish trend in the Dollar/Yen. At the moment, the pair’s quotes are moving near the upper border of the Bollinger Bands indicator. A fall to the area of the middle border of the bands of the indicator 112.97 is expected, where again we should expect an attempt to continue growth with the target near level 114.20.
Bollinger Bands forecast USD JPY on July 6, 2017
The conservative buying USD/JPY area is near the lower border of the Bollinger Bands indicator strip at 112.16. 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 area of 111.72, 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.