Currency USD/JPY is trading at 113.54. Quotes 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 move near the upper border of the bands of the Bollinger Bands indicator. A test of the level of 112.90 is expected, where again we should expect an attempt to continue growth and further development of the upward trend for the pair Dollar/Yen near the level of 115.60.
USD/JPY weekly forecast on December 11 — 15, 2017
The conservative buying area is located near the lower border of the Bollinger Bands indicator strip at 110.85. Canceling the option of continuing 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 quotes below the area of 110.10, 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.