Technical analytics

USDJPY market technical outlook

USDJPY

Daily chart:

Flat scenario pans out. The major doesn’t leave lower Bollinger bands (108.19-108.78 range) and so far there are no signs showing this tendency might be over.

H4-chart:

Local support at the area of lower Bollinger band (108.43) managed to trigger upward pullback to 108.68 (middle Bollinger band). Now currency pair remains inside local lower bands (108.43-108.68) and given very weak ADX readings we might get flat within these boundaries. 

H1-chart:

We note local flat channel 108.52-108.70 (Bollinger bands). As we see all three reviewed time-frames have flat readings.

Expectations:

Flat in the 108.52-108.70 range.

Trading recommendations:

Short-term trades in the 108.52-108.70 channel.