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Ascending flat

Ascending flat | 03 November 2015

03 November 2015, USD/JPY

Daily chart: the middle Bollinger band (120.24) has noticeably restrained bears. The pair is oriented to the upper band (121.56). But ADX parameters are very weak, so it is possible that flat will be throughout the whole day.

Н4: local resistance 121.20.

Н1: support is at 120.58 (middle Bollinger Band). ADX parameters are active, so we can expect a rebound from the above-mentioned zone and rise towards 121.20 and 121.56.

Expectations: touch of zone 120.58 and rise to 121.56

Solutions:

1) Buy from 120.58 to 121.56

Aleksey Panasenko
FreshForex Analyst
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