USDJPY – DownDaily chart: there is a downward correction potential in direction of middle Bollinger band (109.56), although those, who seek reversal should be careful – upper line 116.71 is still to be touched. Н4: the price is locally in horizontal corridor 112.19-114.93 (Bollinger envelopes range). There is also bear oscillator divergence, that means the end (or exhaustiveness) of uptrend and bullish pressure. Н1: ADX is growing but still weak, though current movement looks like a downward one. Resistance level is on the middle Bollinger band (113.80) Expectations: Core scenario – flat in 113.50-113.80 Alternative scenario – drop towards 112.19. Solutions: sell around 113.80 in direction of 112.19.
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