20.07.2020
The pair remains in a very narrow range of 106.60–108.00 amid the uncertainty over the global economic growth. The yen, as a safe haven currency, clearly shows this by its consolidating in this range. This trend is likely to continue for some time.
Technical side:
The price is above the middle Bollinger band, above SMA 5 and SMA 14. RSI is located above the level of 50% and doesn’t move in any particular direction. Stoch are growing.
USDJPY rate online: monitor the price movement in real time.
Trading recommendations:
If the pair doesn’t pass the level of 107.50, it will correct down to 106.85.
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