Currency USD/JPY is trading at 106.47. 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, quotes of the pair test the upper boundary of the bars of the indicator Bollinger Bands. A test of level 106.20 is expected, where again one should expect an attempt to continue growth and further development of the upward trend for the Dollar/Yen pair near the level of 107.40.
USD/JPY forecast Japanese Yen on March 21, 2018
The conservative buying area is located near the lower border of the Bollinger Bands indicator strip at 105.60. The cancellation of the variant of the continuation of the pair growth of the Dollar/Yen will be the breakdown of the lower border of the Bollinger Bands indicator bands, as well as the moving average with a period of 55 and the closing of the pair quotes below 105.10, 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.