Technical analytics

USDJPY market technical outlook

USDJPY

Analysis method - “Trend Potential”

October 11, 2018


Daily chart:

The major is driven to the lower Bollinger bands, that opens room for further decline in direction of the support 111.19 (lower Bollinger band).


H4-chart:

Strong local support at the area of lower Bollinger band (112.04) may provoke pullback towards the area of lower band (112.94), where we can consider short-trades again.


H1-chart:

We note two local resistance levels - 112.31 and 112.77 (middle and upper Bollinger bands). From each of them a downward wave can be continued.


Expectations:

So, we expect touch of the levels 112.31 and, perhaps, 112.77 and afterwards the pair’s slide will be continued.

Trading recommendations:

Search for sell signals at the areas 112.31 and 112.77.



New articles