Technical analytics

USDJPY market technical outlook

USDJPY

Analysis method - “Trend Potential”

July 11, 2018


Daily chart: Bulls continue to accumulate trending potential to break the barrier 111.39 at upper Bollinger band. This potential looks limited for the moment, therefore, downward pullbacks can happen


H4: Locally bullish pressure is in place. Break of the 111.39 level (upper Bollinger band) is possible.


H1: Local range of prior trading is equal to Bollinger bands borders (110.82-111.39)

Expectations:

Main scenario: Flat in the 110.82-111.39 range.

Alternative scenario: Breakout above 111.39 and growth towards 112.00.

Trading recommendations: Search for buy signals in the 110.82-111.39 area



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