Currency pair US Dollar to Japanese Yen USD/JPY completes trading week at 113.338. The pair continues to trade above the moving average with a period of 55, which indicates the existence of a bullish trend for the pair US Dollar to Japanese Yen. At the moment, the quotes of the pair move near the upper border of the Bollinger Bands indicator bars. The test is expected to test the average border of the Bollinger Bands indicator bars near the level of 111.600, where again we should expect an attempt to continue growth and develop an upward trend with the first target near the level of 117.300.
USD/JPY forecast for the week May 15 — 19, 2017
The conservative USD/JPY sale area is near the lower border of the Bollinger Bands indicator strip at 107.600. Canceling the option of continuing the growth of the pair US Dollar to Japanese Yen will be a breakout of the moving average with a period of 55, as well as the lower boundary of the Bollinger Bands indicator and the closing of the pair’s quotes below the 105.700 area, which indicates a change in the bullish trend in favor of the downward trend on the USD/JPY. In the event of a breakdown of the upper boundary of the indicator bands, it is expected to accelerate the growth of the pair USD/JPY to an area above the level of 117.300.