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Descending flat

22 October 2015, USD/JPY

The daily chart: the price reached a critical height for a technical upward correction - the middle Bollinger band (119.94), so you can expect beginning of the medium downward wave in the direction of the bottom band (119.06)

Н4: locally growth potential does not look exhausted, so perhaps the price will test the upper Bollinger band (120.17) before decline.

Н1: possible flat 119.83-120.04 today

Expectations: flat 119.83-120.04

solutions: Sales on growth around 120.04-120.17 targeting 119.06 which is likely to be tested on another day

Aleksey Panasenko
FreshForex Analyst
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