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Bull front is weaker, but the price can make another surge

24 November 2015, USD/JPY

Daily chart: yesterday bulls got weaker and closed the day by pin. However, as long as support from the middle Bollinger band (122.23) sustains, there will remain a threat of a new attack up to 124.27 (upper band). In the case of breakdown at 122.23, a heavy decline towards 120.13 (the bottom Bollinger band) will be possible.

Bull front is weaker, but the price can make another surge

Н4: flat status of both Bollinger envelopes and ADX, so there is a possibility of trade in the range 122.53- 123.05

Bull front is weaker, but the price can make another surge

Н1: active ADX, support is 122.74, the price may turn to 123.35

Bull front is weaker, but the price can make another surge

Expectations: growth to 123.35 is very likely. Alternative option - drop to 122.23.

Solutions: buy to 123.35

Aleksey Panasenko
Analyst of «FreshForex» company
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