Technical analytics

USDJPY market technical outlook


Daily chart: 

The major is being traded long inside upper Bollinger bands (108.81-109.50).


Local upward wave is aimed at resistance 109.50 (upper Bollinger band). We see, that ADX indicator is quite far away from trending zone, therefore we can expect a downward bounce off 109.50. 


Upper Bollinger band is broken, therefore testing of 109.50 is very likely. We expect touch of this level and then new downward pullback to 109.29 and 109.11.


Growth to 109.50 and following reversal to 109.11.

Trading recommendations:

  1. Longs to 109.50.

  2. Shorts from 109.50 to 109.11.

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