USDJPY – Flat forecast

23.06.2023

Daily: Expanding formation on the upper boundary of the Bollinger envelopes for now is more correctly interpreted as a bullish accumulation. ADX is in a strong zone

H4: Consolidation in the range of the Bollinger envelopes (141.34-142.22). The current phase is downward, so a test of the lower boundary of the range (141.34) is possible.

H1: Bollinger envelopes are in the range of 141.53-142.22, with no signs of possible exit. We consider trades going both ways.

Conclusions: flat in the range of 141.53-142.22.

Recommendations: trade in the range of 141.53-142.22.