USDJPY – Down
Daily chart: a very active trending ADX indicates that the pair is ready to keep declining towards 110.50
Н4: there is quite similar situation. ADX is trending, so local support at 112.47 (lower Bollinger band) is going to be under pressure and is likely to be broken.
Н1: on this chart ADX is active too. Bulls have zero chance. It would be better for sellers to correct the price towards 113.27 (middle Bollinger band) and start a new decline.
Expectations: decline continuation towards 110.50 (possibly following a touch of 113.27)
Solutions: consider selling towards 110.50 (the best entry point may be 113.27)
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