Get ready yourselves for the purchase of the Japanese Yen!

The Japanese yen declined against the US dollar in the course of Tuesday trading, after some strengthening in the second half of Monday trading. The main reason for this decline is the difference in the monetary policy of Japan and the United States, as well as the victory in the parliamentary elections of the ruling party of Shinzo Abe. As a result of the formed movement, my yesterday’s recommendations were fully worked out, which brought about 80 points of profit to all who used them. For more information, see https://esterholdings.com/en/2017/10/23/mnenie-po-pare-usd-jpy-2/

It is necessary to take into account yesterday’s statement by the Minister of Defense of Japan, who called the “critical” threat of the DPRK nuclear program. The Minister of Defense of Japan urged the United States and South Korea to take joint measures in connection with threats from the DPRK. More information… 

Technical analysis: The pair USD/JPY retains an upward trend in the short term. One should consider the resistance levels at the levels 114.05; 114.30. Support levels are considered at the levels 113.23; 113.00.

Computer analysis: Stochastic Oscillator on the charts H1 and D1 indicates the overbought of the instrument, which is a signal of a possible reduction in the price of the instrument. According to the indicator MACD on the chart D1 the “bearish divergence” is  formed, which is also a signal of a possible reduction in the price of the instrument.

Key recommendations: The main recommendation will be the sale of the pair USD/JPY from levels 114.05 and 114.30 with the corresponding signal Stochastic Oscillator on the chart H1.

Fig. Current price USD/JPY – 113.67

Alexander Sivtsov