Technical analytics

USDJPY market technical outlook

Daily chart:

Lengthy mid-term flat inside lower Bollinger bands (108.19-108.78) continues. There are still no signs showing this tendency might be over. 


Local upward phase of the movement so far is limited by resistance 108.78 at upper Bollinger band. Support to the major is provided by lower Bollinger band (108.47).


We confirm intraday flat forecast and potentially limited trading channel 108.47-108.78. Bollinger bands are stable and ADX indicator reactions don’t correspond to probable break of the flat. 


Flat in the 108.47-108.78 range.

Trading recommendations:

Trades to both sides inside the 108.47-108.78 channel.

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