Technical analytics

USDJPY market technical outlook

USDJPY

Daily chart:

The major is traded up so far, therefore we can get recovery of the quotes in direction 109.732. However middle Bollinger band (109.365) is also a solid resistance.

H4-chart:

Bearish inside bar was formed from mid-term pivot 109.290 and it’s a strong short-setup. Thus we might observe a decline from current levels in direction 108.750.

H1-chart:

Psychological level 109.000 so far creates problems for sellers, who are facing strong support to the pair here. However given the sell signal from bigger time-frame we can suppose that we’ll see sell-offs again from 109.250 in direction 108.844.

Expectations:

So, we expect growth to 109.250 and then decline to 108.844.

Trading recommendations:

Shorts from 109.250 to 108.844.

 

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