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