The Currency pair US Dollar to Japanese Yen USD/JPY completes the trading week at the level of 111.503. The pair is trading near the moving average level with a period of 55. A test of the upper boundary of the Bollinger Bands indicator bars near the 112,000 level is expected, where again one should expect an attempt to continue falling with the first target near the 109,000 level.
Bollinger Bands forecast USD/JPY for May 1 — 5, 2017
The conservative sales area is located near the upper boundary of the Bollinger Bands indicator bars at 112,000. Canceling the option of continuing the fall of the pair the US Dollar to Japanese Yen will be a breakout of the moving average with a period of 55, as well as the upper border of the indicator bars and the closing of the pair’s quotes above the area of 113.700, indicating a change in the bullish trend for USD/JPY. In the event of a breakdown of the lower boundary of the indicator strip, it is expected to accelerate the fall of the pair into the area below the 109,000 level.