119.84 is the target of correction | 21 May 2015
21 May 2015, USD/JPY
22 мая 2015, USD/JPY
Daily chart: Yesterday we have received inside bar, so, bounce will be more intense than the one we expected yesterday. Target for decline (and entering to a new phase of growth) is the middle Bollinger band (119.84)
.png "Цель коррекции - 119.84")
Н4: Intermediate control support is based at 120.74. If it is broken, the movement to 119.84 will be initiated.
.png "Цель коррекции - 119.84")
Н1: We are wintessing a strong local bearish pressure.
.png "Цель коррекции - 119.84")
Expectations: So, we are waiting for decline to 119.84, from where we buy the pair again with middle-term expectations and targets based on new day Highs.
Trading decisions:
1) We sell to 119.84
2) We buy when the price hits 119.84.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
Aleksey Panasenko
FreshForex Analyst
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