USDJPY – Trading range 131.30-132.54

13.01.2023

Daily: the trend potential of ADX is at an extremely low level, which contributes to the return of the price to the middle Bollinger band (133.32).

H4: a number of resistances, from which bears can try to continue their pressure: 132.00, 132.54, 133.32.

H1: sideways corridor, limited by the size of the Bollinger envelopes (131.30-132.54). The current phase is ascending. Thus, the movement to 132.54 is expected, followed by the reversal downwards.

Conclusions: growth to 132.54, then reversal down to 131.30.

Recommendations: Buy to 132.54, Sell from 132.54 to 131.30.