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USD/JPY remains a wild card

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Posted at 2016-9-23 13:10:35 | All floors |Read mode
Bollinger Bands® on USD/JPY 1hr charts continue to reflect a volatile environment, but one with no dominant trend on higher time frames.

ADX tracks below 30 suggesting a sideways price action. Endorsing this view, the 50-period simple moving average is locked in-between the 200 and the 800-period SMAs. From a larger perspective the USD/JPY still appears ranged sideways.

Traders may look for buy opportunities using divergences between price and oscillators, targeting the 800-SMA. A clear break of the 50-SMA below the 200 would switch the tone to bearish.
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