Technical Analysis 16.04.2019

USDJPY

The pair is trading below the level of 112.00. In our opinion, it will continue a correctional drop in the wake of persisting fears that the world economy will continue to slow down in its growth, which could lead to the beginning of a recession. In this case, protective assets including the Japanese yen will be in demand.

The price is above the middle Bollinger band, below SMA 5 and SMA 14. Movings give a signal to sell. RSI continues to move down. Stoch are falling.

Trading recommendations:

Sell the pair right after it drops below 111.90 with its possible drop to 111.35 or even lower to 111.25.