USDJPY – Initiative on the side of bulls

22.09.2023

Daily: the pair is trading in the middle of the upper Bollinger envelope, keeping the upside potential to 148.57 (upper band). ADX is in the trend zone, which also favors upside work.

H4: strong resistance in the 147.95 zone (upper Bollinger line) can temporarily push the price back to the 147.24 support (lower envelope boundary). We consider buying from this support.

H1: another strong support at 147.52 (lower Bollinger band), which can be considered as one zone with the H4-lower line (147.24).

Conclusions: bounce up from 147.24-147.52 to 147.95.

Recommendations: Buy from 147.24-147.52 to 147.95.