Technical analytics

USDJPY market technical outlook


Daily chart:

Quotes are being chaotically distributed inside the 107.972-109.140 range (upper Bollinger bands). ADX indicator resides in a flat zone, therefore current tendency will probably remain in place.


On local time-frame we can observe full absence of any ADX activity. This speaks to confining of trading range by the boundaries of Bollinger bands (108.385-108.799).


We note boundaries of 20-pip channel inside Bollinger bands (108.505-108.691). Most likely the major won’t leave this range till the end of today’s session.


Flat in the 108.501-108.691 range.

Trading recommendations:

Short-term trades in the 108.501-108.691 channel.


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