USDJPY – Weak Trending Potential

08.12.2021

Daily: Here USDJPY did not have enough strength to overcome the congestion of middle Bollinger envelopes from three time periods of the chart (113.39-113.94), and there are still no signs of a potential trend from the ADX indicator.

Н4: Fixation above the level of the middle Bollinger band (113.39) may provoke the price to recover to the upper band (113.94).

Н1: Reduced potential for directional movement is observed on all frames, so the trading range is unlikely to exceed 33 points (113.39-113.72) today.

Conclusions: Lateral in the area 113.39-113.72.

Solutions: Outside day orders in the range 113.39-113.72.