The Currency pair US Dollar Japanese Yen USD/JPY is trading at 110.136. The pair continues to move below the moving average level with a period of 55, indicating a bearish trend for the US Dollar Yen. At the moment, quotes of the pair test the lower boundary of the bands of the Bollinger Bands indicator. It is worth waiting for an attempt to grow and test the middle border of the bands near the level of 110.700, where again we should expect an attempt to continue falling with the first goal near the level of 109.300.
Bollinger Bands forecast USD/JPY on March 28, 2017
The conservative sales area is located near the upper boundary of the Bollinger Bands indicator strip at 111.700. The cancellation of the continuation of the fall of the US dollar pair Yen will be a breakdown of the upper border area, as well as the moving average and the closing of the pair’s quotes above the 112.250 area, indicating a change in the bullish trend for USD/JPY. In the event of a breakdown of the lower border of the indicator strip, it is expected to accelerate the fall of the pair into the area below the level of 109.300.
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