Currency USD/JPY is trading at 111.95. Quotes of the pair are trading above the moving average with a period of 55, which indicates the presence of a bullish trend for the Dollar/Yen. At the moment, the pair quotes are moving near the middle border of the Bollinger Bands indicator bars. The test is expected to level 111.25, from which we again expect an attempt to continue the growth and further development of the upward trend for the Dollar/Yen pair near the level of 114.50.
USD/JPY weekly forecast on October 29 — November 2, 2018
The conservative buying area is near the lower border of the Bollinger Bands indicator strip at 111.20. Cancellation of the option to continue the growth of the pair Dollar/Yen will break the area of the lower border of the Bollinger Bands indicator, as well as the moving average with a period of 55 and closing of the pair below 108.00, which will indicate a change in trend in favor of the bearish for USD/JPY. In case of a breakdown of the upper border of the Bollinger Bands indicator bands, one should expect an acceleration of growth.