USDJPY – Buying after correction

21.07.2023

Daily: an upward technical correction towards the middle Bollinger band (141.82) has started.

H4: an attempt to break the upper Bollinger envelope is taking place against the background of low ADX activity, which may require another pullback to the middle Bollinger band (138.74).

H1: we confirm a pullback to the middle line intraday. An additional argument for such a correction is the attractiveness of the psychological level of 139.00 for buyers.

Conclusions: pullback to 139.00, then growth towards 140.00.

Recommendations: Buy from 139.00 zone to 140.00.