USDJPY is expected to decline

30.11.2021

Daily: USDJPY will soon test the lower range of the Bollinger Band (112.68), from where an upward reversal is likely, which confirms the ADX direction change.

Н4: At the moment, support is at the lower Bollinger band – at the level of 112.37. Thus, buyers are not recommended to rely on the resumption of the upward movement without first testing this level.

Н1: The hourly lower Bollinger band has been broken, which indicates that the price continues to fall. By the way, this is in line with the conclusion obtained on the H4 chart: we expect the yen at 112.37.

Conclusion: Falling at least to 112.37.

Trading solutions: Sell with the target at 112.37.