Currency pair US Dollar Japanese Yen USD/JPY Yen is trading at 110.444. 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 move between the middle and lower boundaries of the bands of the indicator Bollinger Bands. It is worth waiting for an attempt to grow and test the middle border of the bands near the level of 110.750, where again we should expect an attempt to continue falling with the first goal near the level of 109.600.
Bollinger Bands forecast USD/JPY on March 29, 2017
The conservative sales area is located near the upper boundary of the Bollinger Bands indicator bars at 111.500. The cancellation of the continuation of the fall of the pair of the US dollar 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 area of 111.800, indicating a change in the bullish trend for 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 109.600.
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