Currency pair US Dollar to Japanese Yen USD/JPY is trading at 111.040. The pair is trading below the moving average with a period of 55, indicating a bearish trend for the pair US Dollar to Japanese Yen. At the moment, quotes of the pair test the average border of the bars of the indicator Bollinger Bands. An insignificant correction is expected near the level of 111.500, from which one should expect an attempt to continue the fall and further development of the downward trend in the US Dollar to Japanese Yen USD/JPY with the first target near the level 109.700.
Analytics & prediction USD/JPY on May 23, 2017
The conservative sales area is located near the upper border of the Bollinger Bands indicator strip at 111.800. The abolition of the continuation of the fall of the level will be a breakdown of the upper boundary of the Bollinger Bands indicator bands, as well as a moving average with a period of 55 and the closing of the pair’s quotations above the 112.800 area, indicating a change in the bullish trend for USD/JPY. In the event of a breakdown of the lower boundary of the Bollinger Bands, it is expected to accelerate the fall of the pair into the area below the level of 109.700.
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