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Purchases from the zone of 119.61

Purchases from the zone of 119.61 | 14 October 2015

14 October 2015, USD/JPY

The daily chart: Bollinger envelopes are still stable, but we see that ADX awakens, this can lead to start of the long-awaited distribution after a prolonged accumulation.

Н4: support from the bottom Bollinger band (119.58) still holds the price, so there is a likelihood of move to the upper band (120.36).

Н1: local bullish O&U, which allows you to rely on purchase from 119.61.

Expectations: So, we wait for a decline to the area of ​​119.61, where intensive movement up to 120.30 occurs and possibly to 121.00

solutions: We buy from zone 119.61 to 120.30 and 121.00

Aleksey Panasenko
FreshForex Analyst
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