USDJPY – The correction potential may be exhausted

24.10.2022

Daily: The pair shows intensive fluctuations within the upper Bollinger envelope (146.60-150.75).

H4: The lower Bollinger envelope was broken through, which is a signal to sell from the middle Bollinger line. This level has already been tested, so it is possible that the price growth has reached its limit.

H1: On the hour chart there was also a breakdown of the lower Bollinger envelope. So, we consider the sell-off from the 149.00-149.62 zone.

Results: Down reversal from the 149.00-149.62.

Recommendations: Selling from the zone 149.00-149.62.