Technical analytics

USDJPY market technical outlook

USDJPY

Daily chart:

Testing of upper Bollinger band (109.43) is still likely. ADX didn’t reach trending area so far, therefore locally market can be in a flat mode.

H4-chart:

Bearish inside bar was formed from local upper Bollinger band (109.10) being one of sell signals. Thus we can consider decline in direction 108.76 (middle Bollinger band).

H1-chart:

Solid drop of ADX readings also speaks for flat scenario inside Bollinger bands (108.86-109.08 range).

Expectations:

Flat in the 108.86-109.08 range.

Trading recommendations:

Shorts from 109.08.

 

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