Technical analysis 17.10.18

USDJPY

The pair is trading below 112.15 due to the decreasing tension on the markets, while preserving the short-term uptrend. It may receive support if the market sentiment remains the same and if the Fed monetary policy meeting results in a decision to gradually raise interest rates.

The price is above the middle Bollinger band, below SMA 5, but above SMA 14. RSI is at the level of 50%. Stoch are moving down.

Trading recommendations:

Buy the pair after it goes above 112.40 with a possible target of 113.00.