Forex Technical Analysis: Trend potential – Looking to buy on downward pullbacks

USDJPY – Down

Daily chart: strong resistance around zone 120.23 (the upper Bollinger Band), support is 118.32 (middle band).

Н4: here is northern dynamics of the pair on the background of news from Japan.

Н1: overboughtness plus weakness of ADX make the probability of a downward rollback toward the middle Bollinger band (118.96) high

Expectations: So, in general, we expect growth of the pair to 121.15, but also expect a pullback to the zone 119.00-119.35

Trading solutions: buy in case of a rollback to the zone 119.00- 119.35 with a view to 121.15

You may check other analytical reviews on the web-site of FreshForex company. Source: freshforex.com.

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