Weekly reviews

USDJPY

Analysis method - “Trend Potential”

USDJPY

Analysis method - “Trend Potential”

USDJPY

Analysis method - “Trend Potential” November 3, 2018

USDJPY

The major keeps local upward mood in direction of the upper Bollinger band (113.90). 

USDJPY

Development of downward technical correction continues, which, probably, will be completed at the 111.17 hurdle, where the middle Bollinger band resides, that, traditionally, serves as a strong dynamic support for retracing movements.

USDJPY

Bulls poorly utilized the trending upward potential, however, the second close above upper Bollinger band took place after all. 

USDJPY

Upper Bollinger band is broken, that is a signal of pair’s growth continuation. At the same time, we have to note, that ADX didn’t reach trending area so far, therefore, there is a probability of prior downward pullback and getting more attractive buy points.

USDJPY

 Upward pressure is being pumped at the area of upper Bollinger band (112.58). In case of success, bulls will get space for further growth towards 114.30. But we have to note quite weak ADX, that may tell about absence of breaking potential from buyers.

USDJPY

Market approaches the resistance level 112.59 (upper Bollinger band), from where a downward bounce is expected - ADX resides in a weak area, at the same time continuing its decline, that tells about absence of trending potential in the upward movement (and, correspondingly, low probability of strong level break).

USDJPY

Consolidation of the market within upper Bollinger bands (110.26-112.42) continues, after that, supposedly, bears will try to break into the lower bands.