Technical analytics

USDJPY market technical outlook


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.


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.


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.


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

Trading recommendations:

Shorts from 109.250 to 108.844.