Technical analytics

USDJPY market technical outlook

USDJPY

Daily chart:

The major is growing for the account of Friday’s bullish inside bar. Quotes already reside in the upper Bollinger bands, therefore we can expect further recovery of the asset towards 109.43 (upper band).

Bulls hardly will go higher as ADX readings point to an absence of trending potential. 

H4-chart:

Local potential of growth is also relatively small and saturation by resistances is quite high: we see strong levels at 109.09 and 109.43. Each of them might trigger a pullback.

H1-chart:

On hourly chart bulls show good pressure, therefore 109.09 level probably will be broken. Thus we expect the pair at 109.43.

Expectations:

Growth towards 109.43.

Trading recommendations:

Longs towards 109.43.

 

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