The currency pair US Dollar to Japanese Yen USD/JPY is trading at 109,057. The pair is trading below the moving average with a period of 55, indicating a bearish trend for the US dollar. At the moment, the pair’s quotations are traded near the upper border of the Bollinger Bands indicator bars. An attempt is expected to insignificant growth to the level of 109.400, from which one should expect an attempt to continue the fall and further development of the downward trend in the US Dollar Yen with the first target near the level of 107.600.
Bollinger Bands forecast USD/JPY on April 21, 2017
The conservative sales area is located near the upper boundary of the Bollinger Bands indicator bars at 109.100. The abolition of the continuation of the fall of the pair of the US dollar Yen will be a breakdown of the upper range of the indicator strip, as well as a moving average with a period of 55 and the closing of quotations of the pair above the 110.000 area, which will indicate a change in the trend in favor of the bullish on USD/JPY. In the event of a breakdown of the lower boundary of the indicator bars, it is expected to accelerate the fall of the pair into the area below the level of 107.600.
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