mql5

USD/JPY H4 timeframe

The price is located near and above 200 SMA in the bullish area of the chart and below 100 SMA for the ranging market condition. The price is trying to break 100 SMA together with symmetric triangle pattern to above for the price to be reversed from the ranging bullish to the primary bullish trend. Alterbative, if the price breaks 101.73 support level to below so the reversal of the price movement from the ranging bullish to the primary bearish market condition will be started.

• "Next week could prove pivotal for the markets for two reasons. First, we expect the BoJ to announce policies to re-steepen the JGB curve and even cut depo rates further. Importantly, the meeting may not allay fears that the BoJ is quickly running out of options to ease further. All that could continue to push Japanese long-term yields higher. Second, the Fed should keep rates unchanged but could come out with a relatively more hawkish statement, potentially making reference to a rate hike in the coming months."
• "The BoJ and the Fed meetings could add vigour to the latest tightening in global financial conditions, and lead to further underperformance of commodity and high-yielding G10 currencies. Growing uncertainty ahead of the US presidential election could also fuel the headwinds for market risk sentiment as we approach the first televised debate on 26 September."
• "USD/JPY could remain caught between re-emerging policy divergence on the one hand and escalating risk aversion on the other. That said, we think that short-term volatility should remain bid ahead of next Wednesday."

• If the price will break 102.75 resistance level so the bullish trend will be resumed.
• If price will break 101.73 support so the reversal of the price movement from the ranging bullish to the primary bearish market condition will be started.
• If not so the price will be ranging within the levels.

Resistance	Support
102.75	101.73
103.34	101.19

• Recommendation to go short: watch the price to break 101.73 support level for possible sell trade
• Recommendation to go long: watch the price to break 102.75 resistance level for possible buy trade
• Trading Summary: ranging

SUMMARY : ranging