23.10.2017
USDJPY
The pair has significantly grown, following the election in Japan, which resulted in Shinzō Abe remaining on the post of Prime Minister. The market views this as a victory which indicates a likelihood of continuation of the soft monetary policy.
The price is above the middle Bollinger band, above SMA 5 and SMA 14. RSI is in the overbought zone. Stoch are leaving the overbought territory.
Trading recommendations:
If the pair remains above 113.60 mark, it's likely to continue further up to 114.50-55.
Author: Semyon Kamensky
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