19.06.2018
USDJPY
The pair is trading below 109.90 as the demand for protective assets increases because of the de facto trade war between Washington and Beijing. Considering this, it’s safe to assume that the pair will resume its local decline while forming the Double Top pattern.
The pair is below the lower Bollinger band, below SMA 5 and SMA 14. RSI is above the oversold zone. Stoch are also entering the oversold territory.
Trading recommendations:
The pair may correct upwards to 109.90, but will, most likely, resume going downwards to 109.30.
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