Technical analytics

USDJPY market technical outlook


Daily chart:

The major undergoes the stage of downward technical correction, which supposedly will reach middle Bollinger band (107.13). Here we have a perspective pivot capable to trigger upward wave in direction of mid-term resistance zone 108.91-109.12.

The second part of scenario will be a matter of the next week of course.


Local potential of bears is quite high, therefore we can expect break of support 107.78 at lower Bollinger band and further drop towards 107.13.


Here we also have strong trending pressure of ADX in favor of sellers. We expect further decline of the quotes.


Decline in direction 107.13.

Trading recommendations:

Shorts towards 107.13.


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