The US dollar fluctuated in a narrow range tilted to the upside during the Asian session, to witness its bounce for the second session from the lowest since January 8 against the Japanese yen, following the developments and economic data that it had reported on the Japanese economy and on …
The currency pair is trading in the range of the round important level 0.9700. The daily timeframe shows that the pair has been in the range of historical lows since mid-2018. Also, on the daily timeframe, the right shoulder of the inverted head and shoulders figure is probably forming now. …
The resistance level of 238.15 is holding back buyers. Stochastic Oscillator indicator signals oversoldness. The MACD indicator generates a downward movement signal. Support level is 229.63.
Trading recommendations:
Sell below 229.63.
Stop loss - 238.15.
Target levels: 222.26; 216.70; 211.00.
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