Technical analytics

USDJPY market technical outlook

USDJPY
Daily chart:

As it was supposed the major remains in a flat around the area of middle Bollinger band (108.60). Boundaries of horizontal range are much wider - 108.15-109.43 and it makes harder the search of trading moves.

H4-chart:

We note local borders of sideways channel inside Bollinger bands (108.38-108.97). We can consider opening trades from these walls.

H1-chart:

We confirm strong local support at 108.38-108.44, from where we can go long with count on move towards 108.88 (upper Bollinger band).

Expectations:

Flat in the 108.38-108.88 range.

Trading recommendations:

Trading from the borders of 108.38-108.88 range.

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