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Anticipating correction in the area of 123.13

Anticipating correction in the area of 123.13 | 04 December 2015

04 December 2015, USD/JPY

Daily chart: the pair continues to be squeezed within the trading range of Bollinger envelopes (122.04-123.64)

Anticipating correction in the area of 123.13

Н4: the bottom envelope is formally broken, but the pair has substantial support at 122.60. This may lead to a rollback to the zone 123.13 (middle Bollinger band)

Anticipating correction in the area of 123.13

Н1: the same situation. Many bars outside the envelope suggests possible weakening of bears and beginning of correction to 123.13.

Anticipating correction in the area of 123.13

Expectations: roll back to 123.13 Trading solutions: buy to 123.13 and waiting for signals down in the zone.

Aleksey Panasenko
FreshForex Analyst
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