USDJPY – Fixing a key resistance level

27.01.2022

Daily: The currency pair is preparing to move to the upper Bollinger band, but in the resistance area of ​​114.74 (middle Bollinger envelope) some difficulties are likely due to the drop in the ADX trend potential.

H4: On this time frame, ADX shows the presence of a trend potential, which indicates the upcoming struggle in the area of ​​114.74-115.00. If buyers manage, they will find room for further growth to 100 points.

H1: One of today’s scenarios is consolidation around the upper Bollinger band (114.50-114.85).

Scenarios:

  • The main one is an increase to 114.85, then a rollback to 114.50.
  • Alternative – break above 115.00.

Solutions: Buy from 114.50 to 114.85 and 115.00.