Home About the company Daily reviews Technical Analysis 16.04.2019

Technical Analysis 16.04.2019

16.04.2019

Market Review

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.

Author: admin
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