USDJPY Forecast | Narrowing Japanese trade deficit bearish for USDJPY | IFCM

Technical Analysis USDJPY : 2019-10-21

Narrowing Japanese trade deficit bearish for USDJPY

Japan’s trade deficit narrowed in September when an increase was expected. Will the USDJPY decline?

USDJPY falling below MA(200)

The price chart on 1-hour timeframe shows USDJPY: H1 is trading sideways. The price has dropped below the 200-period moving average MA(200) which is falling. And the Stochastic oscillator is reaching the oversold zone. There is no trend yet formed, traders have to decide when it would be a best time to enter the market.

Start trading with IFC Markets

We are ready to support you with any kind of questions, 24 hours a day.

Note: This overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or а recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.