USDJPY Analysis: Narrowing Japanese trade deficit bearish for USDJPY

October 21, 2019

By IFCMarkets

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.

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Market Analysis provided by IFCMarkets