Thread: Analysis of USDJPY

Hello!

I suggest sharing your forecasts about USDJPY currency pair.

Well, we have three bars outside Bollinger envelopes which should bring market to correction.

This currency pair continues its steady decline in the direction of 1.5041 level.

The pair is getting for correction in the direction of the middle Bollinger band . Upon that, an upward movement was notable, so to sell, one need to receive an additional signal.

Originally Posted by Sadam

This currency pair continues its steady decline in the direction of 1.5041 level.

Oppps, wrong analysis))

The currency market has closed at 124.13 level. Now I expect some dawnward correction at the openning.

Resistance is represented by point 124.18. I expect some pullback to 124.18 abd decline to 123.53

USDJPY is based in the bottom envelope even in the middle of the range, so we need to wait when the price will respond to the bottom/ middle Bollinger bands.

Bulls continue to terror bears, who are ready for it but also reserved a chance to make a revenge.

The USD/JPY always has an up trend. Nevertheless it gives great opportunities to sellers, forming many pull-backs on the way. Now one of them starts.

The USD/JPY was at the 124.07. I guess there will be an up-gap at the opening.