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119.84 is the target of correction

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)

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.

Цель коррекции - 119.84

Н1: We are wintessing a strong local bearish pressure.

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.

Aleksey Panasenko
Analyst of «FreshForex» company
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