Weekly reviews

USDJPY market technical outlook

USDJPY

Weekly chart:

Upward phase of the movement in direction of the upper Bollinger band (114.00), from where most likely a downward bounce will take place, since trending potential of strength indicator ADX is absent.


Expectations:

We expect continuation of growth towards 114.00 and then bounce to the downside.

Trading recommendations:

  1. Longs towards 114.00.

  2. Shorts from 114.00.