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Buy in the area from 123.45 to 124.85

16 June 2015, USD/JPY

Daily chart: As we assumed, yesterday consolidation continued. Resistance is 124.85 (entrance under O&U) will be defined under exposure.

Buy in the area from 123.45 to 124.85

Н4: intermediate resistance 123.84 (the upper Bollinger band)

Buy in the area from 123.45 to 124.85

Н1: a strong local pressure of bulls. If upper envelope is broken (movement to 123.84) are possible on pullbacks to the middle band (123.45).

Buy in the area from 123.45 to 124.85

Expectations: so, waiting for growth to 123.84 and possibly to 124.85. A local pullbacks is possible to 123.45, from where you can buy to 124.85.

Trading decisions:

1) Buy in the area from 123.45 to 124.85 (target will be reached probably not today)

2) In area 124.85 we shall buy to 121.00 in the middle run.

Aleksey Panasenko
FreshForex Analyst
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