USDJPY – Range Trading

07.02.2022

Daily: The pair was stuck in the upper Bollinger band (114.60-115.54) with no trend potential from the ADX indicator. So, you can expect a rebound from the upper line and a new bearish phase.

Н4: The upper local Bollinger band has been overcome, so from the middle envelope (114.79) one can look for a buying opportunity to the resistance level of 115.54.

H1: The local upper Bollinger band was also overcome, so another potential area of ​​demand for the dollar is 115.00-115.09 (middle Bollinger envelope).

Conclusions: rollback to 115.00, then growth to 115.41, then a new reversal down.

Recommendations:

  • Buy from 115.00 to 115.41.
  • Sell ​​from 115.41 to 115.00.