Technical analytics

USDJPY market technical outlook


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.


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).


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


Flat in the 108.86-109.08 range.

Trading recommendations:

Shorts from 109.08.


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