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We wait for purchases in the area 120.29

20 May 2015, USD/JPY

Daily chart: so, the price left beyong established channel with resistance in the area 120.71. Quote will try to consolidate in the figure No 121. But since ADX parameteres are not enough, a pullback is still possible.

We wait for purchases in the area 120.29

Н4: an intensive growth to 121.06 now allows for a correctional wave towards the middle line (119.93)

We wait for purchases in the area 120.29

Н1: intermediate support 120.29

We wait for purchases in the area 120.29

Expectations: so, we are waiting for a pullback from 121.06 to 120.29 and new phase of growth

Trading decisions:

1) We buy from 120.29 with targets on 121-1 and tomorrow's performance.

Aleksey Panasenko
Analyst of «FreshForex» company
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