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Determination of potential trend - USDJPY. The possible continuation of the sideways range 109.79-110.33.

FreshForex news RSS 06.02.2019 at 22:26

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USDJPY - Down

Daily chart: saved build capacity within the upper Bollinger envelope (109.23-110.33). ADX is in a very weak area, so a flat is likely to be continued.

H4: reaffirm local resistance 110.33 (upper Bollinger) - ADX is not trending parameters, so the most likely scenario is a correction to the middle band (109.79).

D1: inside the day maintained the upward potential that allows buyers to Refine the area of 110.33. Thus, the main expectations today will be a sharp move up to 110.33-110.50, and then a decrease towards the zone 109.79.

Expectations:

the Main scenario - an increase in the area of 110.33-110.50, and then roll back down to 109.79.

an Alternative scenario is a break above 110.50 and a further increase to 111.00.

Trade solutions:

1. Shopping for 110.33-110.50.

2. sales from the zone, 110.33-110.50 to 109.79.

And you know where the highest yield on JPY?

Even more trading tools. Read more...

With other analytical reviews you can find on the website "FreshForex".