Log in

Premarket view on the Yen

02 November 2015, USD/JPY

The daily chart: a continued flat in the framework of the Bollinger envelope (118.83-121.50). The pair closed the week by flat sharply around at the middle band (120.12), so moves to the top or bottom wall of the channel are equally probable.

Н4: here support is 120.12 looks reliable - horizontal envelopes, ADX is weak. The range is 120.12-121.20

Н1:more localized levels of support and resistance - 120.30-120.74 (the bottom Bollinger envelope)

Expectations: decline to the zone 120.12-120.30 and then rebound towards 120.74 and possibly to 121.20

solutions: buy from the zone 120.12-120.30 and 120.74 to 121.20

Aleksey Panasenko
Analyst of «FreshForex» company
See also:
Agree with the review?
Traders' opinion:

Do you have any suggestions to make our website better? Have you noticed an error on the site? Tell us

Tell us

Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with rendering Personal area. How to enable cookie support.