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Determination of potential trend - USDJPY. Range Monday 113.71-113.95.

FreshForex news RSS 12.11.2018 at 21:02

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USDJPY - Down

Daily chart: Friday was closed on a bearish inside bar that could be considered a sell signal, if not two "But". These "But" is a breakthrough of the upper Bollinger envelope on Thursday, and is also very active ADX, which can be a serious emerging conditions. Thus, the upward scenario is basic, but the option to move to the middle lane (112.72, see the red arrow) you need to keep in mind.

H4: local ADX is sharply reduced, which limits the trading range outside of the upper Bollinger envelope (113.59-114.12).

H1: also note the weak falling ADX. Thus, the major expectation from Monday is flat in the range 113.71-113.95 (envelopes Bollinger).

Expectations: the flat is in the range 113.71-113.95.

Trading decisions: trade in the corridor 113.71-113.95.

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