Technical analytics

USDJPY market technical outlook

USDJPY

Daily chart:

Intensive downward wave, triggered by bearish inside bar, is in progress. We expect testing of 109.80-110.03 (middle Bollinger band), where bulls can take the driver’s seat again.

H4-chart:

Locally a strong bearish pressure of ADX indicator is in place that also speaks for further extension of the quotes’ decline.

H1-chart:

Hourly chart shows growth of ADX readings in favor of downtrend extension. We expect movement to 109.90-110.03.

Expectations:

Decline to 109.90-110.03.

Trading recommendations:

Shorts to 109.90-110.03.

 

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