17.09.2020
The pair is declining as tensions rise in the markets after the Fed’s outlook for the US economy and labor market was unveiled on Wednesday. This started redistribution of capital from the stock that was in demand on the peak of the pandemic to the industrial, financial and commodity sectors, which stimulated the US dollar and the demand for defensive assets, including the yen.
Technical side:
The price is located below the middle Bollinger band, below SMA 5 and SMA 14. RSI is in the oversold zone and is declining. Stoch are below the 50% level and turn down.
Technical side:
The price is located below the middle Bollinger band, below SMA 5 and SMA 14. RSI is in the oversold zone and is declining. Stoch below the 50% level and turn down.
USDJPY rate online: monitor the price movement in real time.
Trading recommendations:
Sell the pair locally with a likely decline to 104.35.
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