Technical analytics

USDJPY market technical outlook

USDJPY

Daily chart:

ADX almost reached trending values, that tells about high probability of new wave of activity from buyers! The target of probable recovery is the resistance level 114.52.


H4-chart:

Local downward technical correction is directed towards the support 113.54 (middle Bollinger band), where the buy signals can emerge.


H1-chart:

The major consolidates intraday within the lower Bollinger bands (113.71-113.88) so far, that tells about damping of markets before the weekend.


Expectations:

Main scenario: Flat in the 113.71-113.88 range.

Alternative scenario: Upward momentum in direction 114.52.

Trading recommendations:

Search for probable buy signals at the 113.71 handle.


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