USDJPY – Bearish potential

28.04.2023

Daily: Significant support in the middle Bollinger band (133.45) could keep the pair from falling harder for a while. But, given that the upper Bollinger envelope has not been breached, price is likely to fall into the lower envelope, with the prospect of further declines towards 131.44.

H4: Strong trend pressure from the ADX indicator suggests a high probability of a breakdown of the 133.49 level.

H1: There were also significant triggers for further declines inside the day. The lower Bollinger envelope was broken, plus there is trending bearish potential on the ADX.

Conclusions: decline to 132.000.

Recommendations: Sell to 132.000.