Working for a drop
01 September 2015, USD/JPY
The daily chart: yesterday without reaching the middle band, bears formed the inside bar, which allows them to attack from current levels towards the bottom Bollinger band (118.97)
Н4: local levels of support and resistance 119.53-121.98. Working for a drop, so selling on growth is the best way.
Н1: the pair is squeezed within very narrow range (121.03-121.35), but it is unlikely to stay there.
Expectations: So, we wait for beginning of the decline to 120.77, then, after a rebound in the area of 121.35 - a new wave of decline towards 119.53.
solutions: 1) to sell on pullbacks up to 120.77 and 119.53
Aleksey PanasenkoAnalyst of «FreshForex» company
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