Technical analytics

USDJPY market technical outlook

USDJPY

Daily chart:

We note another shift of upper Bollinger band to the upside. Now this dynamic resistance level resides at 110.583 being an actual target of buyers. 

H4-chart:

Local correction of ADX indicator may point to a flat mode of the market. Correspondingly the trading range might be confined within upper Bollinger bands (110.047-110.318).

H1-chart:

Extremely low ADX activity is observed on hourly chart as well, therefore flat forecast for today is the major option. Resistance comes in at upper Bollinger band (110.212). 

Expectations:

Main scenario: Flat in the 110.047-110.212 range.

Alternative scenario: Growth to 110.583.

Trading recommendations:

Longs from 110.047 to 110.212 and 110.583.