Currency USD/JPY is trading at 105.36. 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 107.80 is expected, from which one should expect an attempt to continue the fall and further development of the downward trend with the target near level of 102.70.
USD/JPY weekly forecast on March 5 — 9, 2018
The conservative sales area is located near the middle border of the Bollinger Bands indicator bars at 107.70. The abolition of the continuation of the fall of the US dollar pair Yen will be a breakdown of the mid-range area of the Bollinger Bands indicator bars, as well as a moving average with a period of 55 and the closing of the pair quotes above 110.10, 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.