USDJPY – Bullish potential is not exhausted

10.02.2023

Daily: the pair reached the upper Bollinger band in the 132.30-132.50 zone, which will contribute to the downward correction towards the midline (129.87).

H4: the upper Bollinger band is much higher than the current price, which means that the buyers may not have exhausted their potential yet. We expect the pair in the area of 133.60.

H1: The depth of correction in such conditions is the bottom Bollinger band (131.69), where you can consider buying from, hoping for movement to 133.05 and above.

Conclusions: Decrease to 131.69, then growth to 133.05.

Recommendations: Buy from 131.69 to 133.05.