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Buy from 121.62, sell from 123.04

10 July 2015, USD/JPY

Daily chart the pair is actively moving towards the middle Bollinger band (123.04), from where we expect a new downward wave to (the bottom band).

Buy from 121.62, sell from 123.04

Н4: here we have a similar layout. 123.04 – a strong resistance that can be used to open short trades.

Buy from 121.62, sell from 123.04

Н1: breakthrough of the the upper envelope in a local point enables bulls to take over and potentially push the price towards 123.04 from the middle Bollinger band (121.62)

Buy from 121.62, sell from 123.04

Expectations: 1) Decline to 121.62 and then growth to 123.04. 2) A direct growth to 123.04 and then start of the middle-term decline.

Trading decisions:

1) Purchase from 121.62 to 123.04

2) Sales from 123.04 to 120.63 (in middle-term run)

Aleksey Panasenko
FreshForex Analyst
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