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Decline to 117 figure

Decline to 117 figure | 08 September 2015

08 September 2015, USD/JPY

The daily chart: expressed dynamics of price movement to the bottom Bollinger band (117.26)

Decline to 117 figure

Н4: horizontal envelopes with active ADX. Apparently, bears will pass through standard scheme "Break of the bottom envelope - return to the middle band - main phase of decline." We can sell the pair at the second step (on its return to middle band 119.74).

Decline to 117 figure

Н1: a similar situation, but Southern determination is very strong. So do not wait for retracement higher than 119.34

Decline to 117 figure

Expectations: drop to 117.26. You can enter this drop on a local pullback to 119.34.

solutions: We sell from 119.34 to 117.26.

Aleksey Panasenko
FreshForex Analyst
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