Technical analytics

USDJPY market technical outlook

USDJPY

Daily chart:

Consolidation continues under resistance 112.00-112.33 making equally probable potential scenarios of reversal (black arrow) or continuation (red arrow). Thus it’s a key region and it’s important for predictions.

H4-chart:

A very low potential of ADX indicator doesn’t allow to reckon on break of the upper Bollinger bands’ range (110.79-111.75).

H1-chart:

The same picture is on hourly chart: stable sideways channel within Bollinger bands (110.79-111.70) and low potential of ADX.

 

Expectations:

Flat in the 110.79-111.70 range.

Trading recommendations:

  1. Longs to 111.70.

  2. Shorts from 111.70 to 110.79.

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