Technical analytics

USDJPY market technical outlook

USDJPY

Daily chart:

The major continues to harden support at the area of lower Bollinger band (108.12), that eventually may allow bulls to rebound for a growth towards resistance 109.43 at upper Bollinger band.

It’s obvious that it’s a mid-term scenario.

H4-chart:

Impressive bullish inside bar is formed from lower Bollinger band being a solid buy signal. At the same time ADX indicator resides in a weak area and there is a downward pivot at 108.77. Thus we can get a continuation of potential accumulation in the 108.32-108.77 range.

H1-chart:

We confirm strong barrier for growth at resistance area 108.73-108.77 (upper Bollinger band). Bollinger bands indicate sideways trend and ADX resides beyond trending zone. Therefore the main expectation for today is flat in the 108.32-108.77 range.

Expectations:

Flat in the 108.32-108.77 range.

Trading recommendations:

Trades to both sides in the 108.32-108.77 range.

 

New articles