USDJPY Technical Analysis 30.08.2016

USDJPY

After a minor correction, the pair continued growing amid a very possible Fed's interest rate increase in September.  At the same time, the market is expecting the Bank of Japan to expand the stimulus measures which will lead to divergence between monetary polices of the Fed and the Bank of Japan, not in the yen's favour.

The price is higher than the middle Bollinger band, higher than SMA5 and SMA14. RSI is entering the oversold zone. Stoch have turned upwards.

Trading recommendations: Buy the pair once 102.40 level is breached expecting a possible rise up to 103.20.