USDJPY – DownDaily chart: ADX is corrective, ie, buyers do not have much potential for further upward moves. We can expect a downward correction to the middle Bollinger band (104.39) Н4: resistance is at the upper line of Bollinger (107.56), from where a new wave of upward movement is expected (if bears do not handle it before). Support is at the middle Bollinger band (105.14) Н1: a a local flat horizontal corridor inside Bollinger envelopes (106.34-106.93). ADX is weak and corrective. There is correlation between this sort of accumulation with Eurodollar. The main scenario – flat 106.34-106.93 The alternative scenario – move to 107.56 and the start of the correction down towards 105.14 Trading solutions: under the alternative scenario – sell from 107.56.
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