Currency USD/JPY is trading at 109.52. Quotations of the pair are traded above the moving average with a period of 55, which indicates the existence of a bullish trend for the Dollar/Yen. At the moment, the quotes of the pair move near the upper border of the Bollinger Bands indicator bars. A level test of 109.40 is expected, where again we should expect an attempt to continue growth and further development of the upward trend for the Dollar/Yen pair near the level of 110.10.
USD/JPY forecast Japanese Yen on June 5, 2018
The conservative buying area is near the lower border of the Bollinger Bands indicator strip at 109.10. Canceling the option of continuing the growth of the pair Dollar/Yen will break through the middle range of the Bollinger Bands indicator bars, as well as the moving average with a period of 55 and close the pair quotes below the 108.40 area, indicating a change in the bearish trend for USD/JPY. In the event of breakdown of the upper boundary of the bands of the indicator Bollinger Bands, one should expect an acceleration of growth.