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Upward correction prior to main phase of decline

Upward correction prior to main phase of decline | 04 September 2015

04 September 2015, USD/JPY

The daily chart: decline to the lower Bollinger band (117.84) continues.

Upward correction prior to main phase of decline

Н4: active building of ADX potential, so, after a brief upward correction, you can expect resumption of the fall.

Upward correction prior to main phase of decline

Н1: bullish convergence may trigger a rollback in the area of ​​120.56 (the upper Bollinger band)

Upward correction prior to main phase of decline

Expectations: So, we wait for growth to 120.56 and from there falling to 119.30 with an eye to 117.84

solutions: 1) Purchases to 120.56 2) Sales from 120.56 to 119.30 and 117.84

Aleksey Panasenko
FreshForex Analyst
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