USDJPY – Flat forecast

03.02.2023

Daily: the pair remains in the area of the middle Bollinger band (130.00-130.40), with no signs of trend activity from the ADX indicator, indicating that the market remains flat.

H4: The upper boundary of the Bollinger envelopes was tested, indicating the move to the descending phase in the direction of 129.34.

H1: inside the day we also see the development of the downward wave, which may be limited by the level of 129.65 (lower Bollinger band).

Conclusions: downside movement to 129.65, then growth to 130.40.

Recommendations: Sell to 129.65 and Buy from 129.65 to 130.40.