29.11.2018
USDJPY
The pair is trading below 113.45 due to weaker USD rate caused by yesterday’s the Fed’s chairman Jerome Powell’s speech that was interpreted by the markets as the indication of the central bank’s unlikeliness to hike interest rates further.
The price is below the middle Bollinger band, below SMA 5 and SMA 14. RSI is below the level of 50%. Stoch are entering the oversold territory.
Trading recommendations:
If the pair takes hold below 113.45, while the demand remains on the market, a local drop to 112.75 will be likely.
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