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Strong resistance around 120.30 and 120.61

Strong resistance around 120.30 and 120.61 | 13 October 2015

13 October 2015, USD/JPY

The daily chart: the price still holds a flat range within Bollinger envelopes (119.65-120.61).

Strong resistance around 120.30 and 120.61

Н4: active local ADX, so you can expect an attack to the resistance levels 120.30 and 120.61

Strong resistance around 120.30 and 120.61

Н1: Here, we can see there is no such strong support from ADX, so probably around 120.25-120.30 bulls will have difficulties.

Strong resistance around 120.30 and 120.61

Expectations: rise to 120.30 (perhaps - to 120.61 ), then a rollback down to 120.00

solutions: Purchases to 120.30 and 120.61

Aleksey Panasenko
FreshForex Analyst
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