Currency pair USD/JPY is trading at 113.17. The pair is trading above the moving average with a period of 55, indicating a bullish trend in the Dollar/Yen. At the moment, quotes of the pair test the average border of the bands of the indicator Bollinger Bands. An insignificant correction is expected near the level of 112.85, where again we should expect an attempt to continue growth and further development of the uptrend near the level of 113.76.
Bollinger Bands forecast USD JPY on July 7, 2017
The conservative buying area is near the lower border of the Bollinger Bands indicator bars at 112.88. 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 112.25, 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.