Forex Technical Analysis: Trend potential – Trading Range – 110.42-111.71

USDJPY – Down

Daily chart: the pair showed weakness around middle Bollinger band (112.54) and ensured new drop to 109.78 (lower Bollinger band).

Trading Range - 110.42-111.71

Н4: here support level is on lower Bollinger band (110.42), in this area we may also see bullish Over&Under pattern

Trading Range - 110.42-111.71

Н1: resistance level is at 111.71, support level is at 111.14 (middle and lower Bollinger bands). It is better to consider selling from 111.71 to 110.42 with possible rollover of open positions.

Trading Range - 110.42-111.71

Expectations: we expect the pair to touch 111.71 and then drop to 111.13 or lower towards 110.42.

Trading signals: consider selling from 111.71 to 111.13 and 110.42

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