Technical analysis USDJPY 04.10.2019

The pair is consolidating above the level of 106.70 amid the new US employment data. If the number of new jobs in September is below the forecasted 140,000, the pair will be exptected t resume dropping. If the numbers are higher, the pair will receive limited support.

The price is below the middle Bollinger band, below SMA 5 and SMA 14. RSI is above the oversold zone and moves horizontally. Stoch point to weakening growth.

Trading recommendations:

Sell the pair on the negative after the price drops below the level of 106.70 with a likely target of 106.20. And backward, buy on the positive after the breakout of the mark 107.05 with a likely price increase to 107.65.