The Dollar Yen USD/JPY currency pair is trading at the level of 109.74. The pair's quotes are trading above the level of the moving average with a period of 55. This indicates the presence of a bullish trend for the Dollar-Yen pair. At the moment, the pair's quotes are moving near the upper border of the Bollinger Bands indicator.
As part of the forecast of the Dollar-Yen pair, a test of the level of 109.60 is expected. From here, we should expect an attempt to continue the growth of the USD/JPY pair and further development of the upward trend. The target of this movement is the area near the level of 110.20. The conservative area for purchases of the USD/JPY pair is located near the lower border of the Bollinger Bands indicator at the level of 109.30.
Dollar Yen forecast and analysis for June 15, 2021
The cancellation of the option to continue the growth of the Dollar Yen pair will be a breakdown of the lower border of the Bollinger Bands indicator. As well as the moving average with a period of 55 and the closing of the pair's quotes below the area of 106.80. This will indicate a change in the current trend in favor of a bearish one for USD/JPY. In the event of a breakdown of the upper limit of the bands of the Bollinger Bands indicator, we should expect an acceleration in growth.
Dollar Yen forecast and analysis for June 15, 2021 suggests a test of the level of 109.60. Further growth is expected to continue in the area above the level of 110.20. The conservative purchase zone is located near the area of 109.30. The cancellation of the growth option of the USD/JPY pair will be a breakdown of the level of 106.80. In this case, we should expect the fall to continue.