26.08.2020
The pair is trading higher below 106.50 against the background of the weaker dollar ahead of an expectedly important speech from the Fed’s head, Jerome Powell, to be made at the Jackson Hole symposium tomorrow. Drastic measures from the Fed aimed at supporting inflation are expected and may put pressure on the US currency in the near future.
Technical side:
The price is above the middle Bollinger bnad, below SMA 5, but still above SMA 14. Moving averages suggest buying. RSI is below the overbought zone and indicates a weaker growth. Stoch are moving down from the overbought zone.
USDJPY rate online: monitor the price movement in real time.
Trading recommendations:
If the pair goes above 106.50, it may continue further up to 107.00.
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