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123.48 is sales area

18 June 2015, USD/JPY

Daily chart: Yesterday we were pretty close to our entry point (125.00). The price may start to decline from current levels. First target - bottom Bollinger band (121.07)

123.48 is sales area

Н4: bottom Bollinger band is attacked, which may force us to find entry point around the middle line (123.48)

123.48 is sales area

Н1: nearest local target - 122.70 (bottom Bollinger band), ADX is active, so the pair may go lower. However, we will start to look for entry point only after a pullback to the upper band (123.48)

123.48 is sales area

Expectations: so, waiting for a decline to 122.70 and lower and then for a pullback to 123.48, where shall buy to 121.07. It will take more than a day.

Trading decisions:

1) Sell when the price returns to 123.48 with the target at 121.07 (in the middle run)

Aleksey Panasenko
FreshForex Analyst
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