Technical analytics

USDJPY market technical outlook


Daily chart:

Upper Bollinger band being an important target level for upward tendency resides at 109.601 mark. Correspondingly, trading tactics should be longs with count on further growth to this region.


We note strong dynamic support at 108.750 (middle Bollinger band), where buyers can regain control as earlier upper Bollinger band was broken and it’s a solid signal for continuation of the main tendency.


Intensive intraday downward correction is testing support zone 108.750-108.858 at this moment. Any long-signals formed at this area will have a high probability for execution.


We expect testing of 108.750-108.858 and then new upward momentum in direction 109.61 (the target most likely will be beyond one day).

Trading recommendations:

Longs from 108.750-108.858 to 109.61.


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