Technical analytics

USDJPY market technical outlook

USDJPY

Daily chart:

The major is being traded in the middle of upper Bollinger bands range keeping probability of correction towards middle Bollinger band (108.245). It’s here we have the most optimal area for mid-term longs with count on move towards upper band (109.601).

H4-chart:

Right now the pair resides at support 108.824 (middle Bollinger band). ADX resides in a weak zone, therefore we can’t rule out a slide of the price to lower bands in direction of support 108.562.

H1-chart:

Very weak intraday trending potential confines trading range by Bollinger bands (108.790-108.933).

Expectations:

Flat in the 108.790-108.933 range.

Trading recommendations:

Short-term trades in the 108.790-108.933 channel.

 

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