Technical analytics

USDJPY market technical outlook


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.


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


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


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.