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Premarket view on the Yen

Premarket view on the Yen | 12 October 2015

12 October 2015, USD/JPY

The daily chart: in spite of the northern grab of the pair (it is notably bought on declines), flat channel within the Bollinger envelopes has been saved, however, we can with a high probability expect resistance at the upper band ( 120.74). Support is located at the lower Bollinger line (119.65)

Premarket view on the Yen.

Н4: ADX is going through correction and downward movement is developing after receiving the inside bar around ​​the top Bollinger band . This opens up potential for a correction to the bottom line (119.73)

Premarket view on the Yen

Н1: local support at the middle Bollinger band (120.15). With equal probability it can send the pair to test the upper line (120.44) or the bottom (119.86). As you can see, the range is too small to trade, so it is nevertheless reasonable to trade from the very top of the corridor, trying to guess about the direction in the middle.

Premarket view on the Yen.

Expectations: So, strong resistance 120.15, which can occur either rise to 120.44 or drop towards 119.73-119.86, where there is a promising place to buy.

solutions: We buy from the zone 119.73-119.86 and 120.74 to 120.44 (extraday )

Aleksey Panasenko
FreshForex Analyst
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