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Premarket view on the Yen

23 November 2015, USD/JPY

Daily chart: the key area of support - the middle Bollinger band (122.10, red arrow). Bulls will have a chance to finalize the upper band (124.13), and bears - to turn the price down so that it would reache the bottom band (119.90, black arrow).

Н4: weak ADX, we are waiting for fluctuations in the lower part of the envelope (122.35-123.14)

Н1: narrow flat range 122.72-122.96

Expectations: The main scenario - flat 122.72-122.96. The alternative script scenario - a more extended flat.

Solutions: Buy from the area ​​122.35 to 123.14 and possibly to 124.13

Aleksey Panasenko
Analyst of «FreshForex» company
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