USDJPY – Positional advantage of bears

28.07.2023

Daily: the pair is a little stuck in the middle of the lower Bollinger envelope, which does not cancel the prospects of further decline in quotes.

H4: within the framework of medium-term correction we can consider the movement to the middle Bollinger band (140.80), which is the most interesting zone for sellers.

H1: the hourly lower Bollinger envelope was also broken, so we cannot exclude the transition to a decline from the current levels.

Scenarios:

  • Main – decline to 139.70 and lower.
  • Alternative – correction towards 140.80.

Recommendations: Sell to 139.70, 139.50.