Technical analytics

USDJPY market technical outlook


Daily chart:

The major so far keeps negative dynamics, however potential of decline is apparently limited by lower Bollinger band (108.06). We can expect an upward bounce off it.


Two local supports at 108.38 and 108.06, each of them can provoke an upward reversal. 


On hourly chart we observe bracketing of the price inside a tight triangle range 108.40-108.55. Once market breaks this accumulation we’ll see a short-term splash of volatility.


Decline to 108.06 and following upward bounce.

Trading recommendations:

  1. Shorts to 108.06.

  2. Longs from 108.06.

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