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Support 124.00, resistance 124.53

10 August 2015, USD/JPY

Daily chart: we can see the сonstriction of envelope as the sign of preparation for impulse volume distribution. The upper band is very active (124.85), but support of the middle one (123.94) is still kept.So, the breakthrough of one of this these zones will show the sentiment and the direction for the nearest future.

Support 124.00, resistance 124.53

Н4: bulls keep control the charts.

Support 124.00, resistance 124.53

Н1: a local resistance from middle Bollinger band (124.53) is able to "drop" the pair again to the bottom band (123.94)

Support 124.00, resistance 124.53

Expectations : so, wait for the contact 124.53, then pullback to 124.00 and new growth to 124.85 (extraday).

Trading solutions

1) Buys from 124.00 to 124.85.

Aleksey Panasenko
FreshForex Analyst
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