Perhaps, a sharp fall in the event of withdrawal under 122.35
25 November 2015, USD/JPY
Daily chart: the pair came close to the middle Bollinger band (122.23), and from there there are only two ways: the bottom band (120.27) or to the top band (124.27). Meanwhile the scenario can be considered equally probable.
Н4: a strong area of support at 122.35 and very aggressive ADX. This attitude can be related to both fronts, so you need to be careful. Bearish scenario will be significantly activated by the support of 122.35 (red arrow). As part of the bullish scenario rise to 123.25 would be possible
Н1: lingering convergence of oscillator can talk about weakening of the downward pressure. Within the day trading is possible within the envelope Bollinger (122.35-122.79).
Expectations: 1) Nervous flat 122.35-122.79. 2) If the price gets under 122.35 - a sharp fall towards 120.27
Trade solutions: 1) Sell on breakdown of 122.35 to 120.27 2) Sell on growth to 122.79
Aleksey PanasenkoAnalyst of «FreshForex» company
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