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A new decline towards 117.55 is possible

25 August 2015, USD/JPY

The daily chart: after a sharp fall, break and puncture of the bottom support envelope 118.53, the pair apparently feels the need to roll back to the middle Bollinger band (122.44), from which, perhaps, you can enter along a new trend down.

Возможно новое снижение к 117.55

Н4: a little more localized resistance in the zone of 122.38. 122.38.

Возможно новое снижение к 117.55

Н1: there is a local, 200-point range 117.55-119.71.

More imposing correction is possible only with a break above 119.71 (middle Bollinger Band).

Возможно новое снижение к 117.55

Expectations: So, the pair is about to make a new test level of 117.55, where can happen correction in the zone 119.71.

mirror scenarios is also possible (first to 119.71 and then fall to 117.55)


1) sell from 119.71 to 117.55

Aleksey Panasenko
Analyst of «FreshForex» company
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