We expected a sluggish day

20 October 2015, USD/JPY

The daily chart: the pair is still correcting upwards and now the main issue is the ability of resistance around 119.85 (middle Bollinger Band) to turn this pullback to continue the medium term decline of the pair.

Н4: the price is in the top Bollinger envelope between support 119.13 and resistance 119.85

Н1: we assume that intraday the pair will not be able to get out of the flat status fluctuating between 119.24 and 119.58

Expectations: flat 119.24-119.58

solutions: Do not trade

Aleksey Panasenko
FreshForex Analyst
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