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 currency pair is trading in the range of the upper border of the descending price channel. Stochastic Oscillator indicates an overbought condition, while Awesome Oscillator indicates a bearish divergence. The ascending H1 level pattern is truncated.
: monitor the price movement in real time.
Trading …
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