Technical analytics

USDJPY market technical outlook

USDJPY
Daily chart:

Lengthy mid-term flat inside lower Bollinger bands (108.19-108.78) continues. There are still no signs showing this tendency might be over. 

H4-chart:

Local upward phase of the movement so far is limited by resistance 108.78 at upper Bollinger band. Support to the major is provided by lower Bollinger band (108.47).

H1-chart:

We confirm intraday flat forecast and potentially limited trading channel 108.47-108.78. Bollinger bands are stable and ADX indicator reactions don’t correspond to probable break of the flat. 

Expectations:

Flat in the 108.47-108.78 range.

Trading recommendations:

Trades to both sides inside the 108.47-108.78 channel.

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