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Two scenarios

26 August 2015, USD/JPY

The daily chart: a strong support zone, oversoldness, indside bar and a very active ADX - not an easy combination for interpretation.

Two scenarios

Н4: the ultimate depth of decline can be the Area 117.55 (Lower Bollinger Band), from where a roll back into a zone of to the middle band (121.00) is possible.

Two scenarios

Н1: the pair is locally squeezed between 118.71 and 120.44.

Two scenarios

Expectations:

1) Rebounce from 118.71 towards 120.44

2) With the breakdown below 118.71 - we are waiting for decline to 117.55. Solutions:

1) We act on the basis of one of the two scenarios.

Aleksey Panasenko
FreshForex Analyst
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