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Level 120.39 is the limit

19 May 2015, USD/JPY

Daily chart: The upper line of channel (120.39) is the limit, from where we may expect a new decline towards 118.70

Предел роста 120.39

Н4: Here is a local bullish pressure, so the price hitting 120.39 is quite real.

Предел роста 120.39

Н1: a local string is being formed 119.81-120.08

Предел роста 120.39

Expectations: pullback to 119.81 and hitting of the point 120.39, from where a new decline to 118.70 is starting.

Trading decisions:

1) Purchases from 119.81 to 120.39

2) Sales from 120.39 to 118.70

Aleksey Panasenko
Analyst of «FreshForex» company
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