Currency USD/JPY is trading at 110.77. The pair is trading 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. An insignificant correction is expected near the level of 110.25, where again we should expect an attempt to continue growth with the target near the level of 112.70.
USD/JPY forecast Japanese Yen on August 17, 2017
The conservative buying area is located near the lower border of the Bollinger Bands indicator bars at 108.70. The cancellation of the continuation of the growth of the pair Dollar/Yen will be a breakdown of the lower border of the Bollinger Bands indicator bands, as well as a moving average with a period of 55 and the closing of the pair’s quotations below the 107.50 area, which indicates 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.