USDJPY Technical Analysis 12.12.2016

USDJPY

The pair continues to trade in short-term upward trend, thanks to the expected US interest rate hike and Japan's soft monetary policy. The pair may correct downwards amid being locally overbought, but, most likely, it will continue rising.

The price is higher than the middle Bollinger band, higher than SMA5 and SMA14. RSI resides in the overbought zone. Stoch are turning downwards inside the overbought zone.

Trading recommendations: There is a possibility that the pair will correct to 115.00. But if the level is not passed, the pair will continue rising up to 116.65.