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Strong support zone 122.37-122.58

26 November 2015, USD/JPY

The daily chart: yesterday the pair received considerable support in the strategically important area of ​​122.37 (the middle Bollinger Band). However, ADX parameters ignore that, so the scenarios of growth to the upper Bollinger band (124.16, blue arrow), and fall to the bottom band (120.51, black arrow)remain to be equally probable

Strong support zone 122.37-122.58

Н4: also passive ADX, so the trading range is limited to the scope of the Bollinger envelope (122.25-123.21)

Strong support zone 122.37-122.58

Н1: two good areas for intraday purchases - 122.37 and 122.58. The goal is limited by the area 122.97-123.21

Strong support zone 122.37-122.58

Expectations: So, we wait for touch of zone 122.37-122.58 and a rebound from the zone 122.97-123.21.

Trading solutions: purchase from the zone 122.37-122.58 to 122.97-123.21.

Aleksey Panasenko
Analyst of «FreshForex» company
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