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Small trading ranges

02 December 2015, USD/JPY

Daily chart: the bullish front has got noticeably weaker, so we expect a good drop from zone of the upper Bollinger band (123.90)

Small trading ranges

Н4: local resistance - 123.25 support - 122.94.

Small trading ranges

Н1: two strong resistance lines, which can not let the pair get upper. It is 122.94 and 123.19. Intraday support - 122.71.

Small trading ranges

Expectations: drop to the area of ​​122.71 after touch of 122.94 (or 123.19). The ranges are small, entries into trades can be justified only in the second (higher) point.

Trading solutions: Sell to 122.71 in the case of touch of 123.19 zone

Aleksey Panasenko
FreshForex Analyst
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