Technical analysis 20.12.18

USDJPY

The pair is in downtrend following the Fed’s meeting results that demonstrated the regulator’s concern over the future of America’s economic growth, since the bank made clear its intention to continue hiking interest rates, while their quantity will depend on the economic situation. It creates uncertainty and pressure for the pair, making investors avoid risks.

The price is below the middle Bollinger band, below SMA 5 and SMA 14. RSI has entered the oversold territory. Stoch have reversed downwards.

Trading recommendations:

If the price falls below 111.80, it will be likely to go further down to 111.25 and 110.75.