Currency USD/JPY is trading at 113.05. Quotes of the pair are trading above the moving average with a period of 55. This indicates the presence of a bullish trend for the pair Dollar/Yen. At the moment, the pair quotes are moving near the upper border of the Bollinger Bands indicator bars.
USD/JPY forecast Japanese Yen on December 12, 2018
In the forecast of the pair Dollar/Yen is expected to test the level of 112.80. Where can we expect an attempt to continue the growth of the pair USD/JPY and the further development of the upward trend. The purpose of this movement is the area near the level of 113.70. The conservative area for buying of USD/JPY is located near the lower border of the Bollinger Bands indicator at 112.30.
Cancellation of the option of continuing the growth of the Dollar/Yen pair will be a breakdown of the lower border of the Bollinger Bands indicator. As well as the moving average with a period of 55 and closing quotes pair below 112.10. This will indicate a change in the current trend in favor of the bearish USD/JPY. In case of a breakdown of the upper border of the Bollinger Bands indicator bands, one should expect an acceleration of growth.
USD/JPY forecast Japanese Yen on December 12, 2018 implies a test level of 112.80. Further growth is expected to continue to the area above the level of 113.70. The conservative buying area is located is near the area of 112.30. The cancellation of the growth of the pair USD/JPY will be the breakdown of the level of 112.10. In this case, we should expect the continuation of the fall.