Technical analytics

USDJPY market technical outlook


Analysis method - “Trend’s Potential”
August 20, 2018

Daily chart: The major consolidates within lower Bollinger bands (110.37-111.10). The trend strength indicator ADX entered an active area, therefore, shortly, exit beyond this range will be possible.

H4: Downward phase of the movement in direction of lower Bollinger band (110.25). ADX doesn’t show breaking potential, therefore, there is a high probability of upward bounce

H1: We mark intraday horizontal (flat) corridor 110.38-110.68.

Expectations: Flat in the 110.38-110.68 range.

Trading recommendations: Trading in the 30-pips corridor 110.38-110.68.

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