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Key resistance 124.38

Key resistance 124.38 | 21 July 2015

21 July 2015, USD/JPY

Daily chart very active ADX, so it is quote probable that soon bulls will be able to work on the upper Bollinger band (124.96)

Key resistance 124.38

Н4: divergence of the oscillator presents here, so we will check how the price would respond to resistance 124.39. But ADX is active as well, so bulls have good chances to succeed.

Key resistance 124.38

Н1: situation is the same, but here ADX is going through correction granting both bulls and bears with the chances.

Key resistance 124.38

Expectations: So, there is notable resistance on 124.38 is able to bring the pair to a pullback. On the event the price manages to break above, we will expect movement in the direction of the125th figure.

Trading decisions:

1) If we get short signals from resistance 124.38, we should sell.

2) On the event of a breakthrough above 124.45, we should buy to 124.86 and 125.00

Aleksey Panasenko
FreshForex Analyst
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