Forex: technical overview 22.01.18

USDJPY

The pair is within the range of 110.30–111.45. The market players are waiting for the Bank of Japan to reveal the results of their monetary policy meeting this Tuesday. The pair is likely to remain in its current state until this event.

The price is below the middle line of the borders of Bollinger bands, above EMA5, but below EMA 13. RSI is below the level of 50% and is growing. Stochastic oscillators are also moving up.

Trading recommendations:

The pair is expected to remain within the range of 110.30–111.45 today. However, the pair may resume growth if the meeting results show that the bank will not be in haste to stop the economic stimulus policy.