USDJPY – Flat forecast

12.05.2023

Daily: the pair is trading in the territory of the lower Bollinger envelope, but there are no big prospects for the downside due to the lack of the ADX trend potential. Most likely, we will see another pullback to the middle band (134.81).

H4: the lower Bollinger envelope was broken through, but correction to the mid-band area (134.81) will be needed here as well. The reason is the same: relatively low trend potential.

H1: Also one of the possible scenarios could be a consolidation in the range of the lower Bollinger envelope (133.73-134.37). Thus, the middle Bollinger line (134.37) is a test resistance level.

Conclusions: flat in the range of 133.73-134.81.

Recommendations: search for possible signals on the boundaries of this range.