Technical analytics

USDJPY market technical outlook


Daily chart:

A very strong short-setup is potentially being formed at the tip of upswing - bearish inside-bar. Lower high and strong resistance 109.22 are additional arguments for downward reversal of the market.

This situation is very perspective. The closest target is stiff pivot 108.25-108.48, but mid-term targets apparently will be bolder.


Local structure undergoes the stage of corrective downswing building, which can stop at PPZ 108.65 allowing the major to retrace to 108.92. Though, all this will be a part of inside-bar forming on a daily chart.


Flat in the 108.65-108.92 range and forming of bearish inside-bar by the end of the day.

Trading recommendations:

Shorts from 108.92.


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