Currency USD/JPY is trading at 105.61. 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, quotes of the pair move near the middle border of the bands of the indicator Bollinger Bands. A test of level 106.25 is expected, from which one should expect an attempt to continue falling and further development of a downward trend with a target near level of 104.10.
USD/JPY forecast Japanese Yen on March 8, 2018
The conservative sales area is located near the upper boundary of the Bollinger Bands indicator bars at 106.40. The abolition of the continuation of the fall of the pair the 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 quotations above the 107.50 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.