USDJPY – Down to 139.05

02.06.2023

Daily: the pair is in the least suitable place to open trades – the middle of the upper Bollinger envelope. There is also the area of the confluence of hourly average lines (139.49-139.91).

H4: the 139.91 area looks like a supply zone. Psychological level of 140.00, as well as breakdown of the bottom Bollinger envelope also have their influence.

H1: an evident downward wave, directed to the lower boundary of the Bollinger envelopes (139.05). We consider selling.

Conclusions: fall to 139.05.

Recommendations: Sell to 139.05.