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Waiting for attack of 123.76 and start of decline to 122.26

09 June 2015, USD/JPY

Daily chart: Correction to the middle Bollinger band (122.26) is probable, however, the upper line still grows to 126.39, so we cannot confirm reversal yet.

Waiting for attack of 123.76 and start of decline to 122.26

Н4: a well expressed divergence of the oscillator and pressure of ADX - everything speaks for decline. Break of support 123.75 (the bottom Bollinger band) will lead to decline down to 122.26

Waiting for attack of 123.76 and start of decline to 122.26

Н1: a dip upwards is probable. Potential levels of the offer are the middle (124.71) either upper (125.45) Bollinger band.

Waiting for attack of 123.76 and start of decline to 122.26

Expectations: so, we are waiting for attack of support line 123.76 and start of a new decline to 122.26. Today we can witness offsets to 124.71 или (if this level is broken) - to 125.45

Trading decisions::

1) Sell from 124.75 and 125.45. Taking into account a big distance between these areas, we will need an additional signal for sales. Targets are 123.76 and 122.26.

Aleksey Panasenko
Analyst of «FreshForex» company
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