Technical Analysis 15.04.2019

USDJPY

The pair is trading below the level of 112.00 after reaching a local maximum following the overall weaker USD rate. A local correction of the price is expected.

The price is above the middle Bollinger band, below SMA 5, but above SMA 14. RSI has left the overbought territory and is reversing downwards. Stoch have also left the overbought zone and indicate a downwards reversal of the price.

Trading recommendations:

Sell the pair as it’s likely to drop to 111.35.