Technical analysis 13.06.18

USDJPY

The pair is trading above 110.50. It’s supported by the decreased geopolitical tension in the world and the expectations of a positive outcome of the Fed monetary policy meeting for the USD.

The price is above the middle Bollinger band, above SMA 5 and SMA 14. RSI is below the overbought level and indicates a weaker growth. Stoch are entering the overbought territory.

Trading recommendations:

If the pair holds above 110.50, it would have the potential to grow up to 111.35, but also the profit taking by investors is possible following the results of the Fed meeting. In this case, the price may go below the support level of 110.50 and then further down to 110.00.