Currency USD/JPY is trading at 111.85. Quotes of the pair are trading below the moving average with a period of 55, which indicates the presence of a bearish trend for the Dollar/Yen. At the moment, the pair quotes are moving near the lower border of the Bollinger Bands indicator bands. The test is expected at the level of 112.30, from which one can expect an attempt to continue to fall and further develop the downward trend with a goal near the level of 111.00.
USD/JPY forecast Japanese Yen on October 16, 2018
The conservative sales area is located near the upper boundary of the Bollinger Bands indicator bars at 113.00. Cancellation of the option to continue the fall of the US Dollar pair Yen will be a breakdown of the upper border of the Bollinger Bands indicator, as well as the moving average with a period of 55 and closing of the pair above 114.00, which will indicate a change in trend in favor of the bullish USD/JPY. In case of a breakdown of the lower border of the Bollinger Bands indicator bands, one should expect an acceleration of the fall.