USDJPY – Down
Daily chart: a continued rising correction in the direction of the middle Bollinger band (110.59), from which, with a high probability, the price may take a new medium-term phase of decline
Н4: a more localized resistance 109.88 (the upper Bollinger band). Bollinger envelopes are horizontal, ADX is weak. Therefore, we expect flat within the channel 108.16-109.88
Н1: even a better shaped intraday resistance of 109.43 (the upper Bollinger band). Support is at 108.91 (the bottom Bollinger band).
Expectations: The main scenario – touch of 109.43 and then correction to 108.91
The alternative scenario – surge to 109.88
Trading solutions: look for the entry points down to 109.43 and 109.88. The goal is 108.91
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