Currency USD/JPY is trading at 110.78. Quotes of the pair are traded 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’s quotes are moving near the middle border of the Bollinger Bands indicator bars. An insignificant correction is expected near the level of 111.35, from which one should expect an attempt to continue falling and further development of a downward trend with a target near the level of 108.90.
USD/JPY forecast Japanese Yen on August 7, 2017
The conservative sales area is located near the upper boundary of the Bollinger Bands indicator strip at 111.10. The abolition of the continuation of the fall of the pair of Dollar/Yen will be a breakdown of the upper range of the Bollinger Bands indicator bands, as well as a moving average with a period of 55 and the closing of the pair’s quotes above the 111.60 area, indicating a change in the bullish trend for USD/JPY. In the event of a breakdown of the lower boundary of the bands of the Bollinger Bands indicator, it is expected to accelerate the fall.