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The price continues to accumulate potential

08 October 2015, USD/JPY

The daily chart: the pair continues to consolidate before the impulse. Based on the ADX/RSI figures, impulse is unlikely to happen today. Range of trading is painted by the yellow zone (Bollinger envelopes, 119.65-120.77

The price continues to accumulate potential

Н4: local support at the lower Bollinger band (119.54)

The price continues to accumulate potential

Н1: the pair is the resistance from the middle Bollinger band (120.02), so it may continue to drop to 119.65-119.80

The price continues to accumulate potential

Expectations: flat in the range 119.65-120.02

solutions: No trading in that the flat (or buy from below based on the northern distribution)

Aleksey Panasenko
FreshForex Analyst
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