As the world market trading session began on 13th March 2020, the exchange rate strongly fluctuated. JPY is one of the 6 major currencies that determines the volatility of the USD. When the USD/JPY exchange rate decreased by 0.6%, the level came down to 103.85.
According to the released report, currency USD/JPY was trading at 103.69. Such a low value indicates a bearing trend for the Dollar/Yen pair. Then, what is the expected level for the Dollar/Yen pair and whether there is any sign of development or not? The conservative area for sales of the USD/JPY pair is roaming around the level of 105.60.
If the government stops the fall of the Dollar/Yen pair, then the upper border of the Bollinger Bands indicator stripes will get adverse. Moreover, an average period of 55 will start and quotations will close above the area of 108.10.
All these combined actions will bring a favourable change for the bullish for USD/JPY. However, the USD/JPY pair will keep falling if the lower border of the Bollinger Bands indicator stripes undergoes a breakdown.
It is not possible to predict the development in world financial markets. Thus, no one can guarantee the recovery of USD price. We can expect continued growth of the USD/JPY pair in case the level of 108.10 breaks.