USDJPY Technical analysis 24.10.17

USDJPY

The pair went down to the support level on the Asian market, following a surge this Monday caused by the victory of the current Prime Minister Shinzō Abe's party in the election in Japan. The pair may receive an incentive for growth if the industrial inflation data in the US demonstrate positive dynamics.

The price is above the middle Bollinger band, but above SMA 5 and SMA 14. RSI is above 50% level and is reversing upwards. Stoch are also reversing upwards as they leave the oversold zone.

Trading recommendations:

If the pair remains above 113.25 mark, it's likely to go further up to 114.50-55.