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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)

Working for a drop

Н4: local levels of support and resistance 119.53-121.98. Working for a drop, so selling on growth is the best way.

Working for a drop

Н1: the pair is squeezed within very narrow range (121.03-121.35), but it is unlikely to stay there.

Working for a drop

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 Panasenko
FreshForex Analyst
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