Technical analysis 04.06.2018

USDJPY

The pair is consolidating below the level of 109.85. Its growth is restrained by the expected increase in tension surrounding the use of trade wars as an instrument of pressure on their economic opponents by the US.

The price is above the middle line of the borders of Bollinger bands, above EMA 4 and EMA 13. RSI is moving horizontally below the overbought zone. Stochastic oscillators are in the overbought zone.

Trading recommendations:

The price’s inability to pass 109.85 and its further decline to 109.50 may lead to a local reversal and a further decline to 108.60.