USDJPY – DownDaily chart: the pair continues to consolidate around the middle Bollinger band (102.40). Apparently, the pair totally depends on US dollar, which is “solving” its questions with euro Н4: a flat horizontal corridor within the envelope Bollinger band (101.59 – 103.08). ADX is inactive. The price chart has an ascending nature (gradual increase of Lows and Highs) Н1: at this local frame, the pair is clamped inside the Bollinger envelope (102.04 – 102.44). ADX is very weak, therefore, probably, today’s range will be limited by these borders. The main scenario – trading inside a relatively small horizontal band 102.04-102.44 The alternative scenario – decline to 101.59 Solutions: search for signals in both directions at the levels of 101.59 and 102.44
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