We consider buying from 121.89
17 December 2015, USD/JPY
Daily chart: the price has almost reached the middle Bollinger band (122.50), from which bears need to start acting again. Otherwise, the pair will go to the upper envelope (up to 123.91 (upper Bollinger band)
Н4: very active ADX, so a breakdown of the upper Bollinger envelope is highly probable. In this case, the best entry points into purchases will be from the zone 121.36.
Н1: northern orientation of the envelopes, plus the envelope pierced the upper Bollinger band. Support - the middle band (121.89)
Expectations: roll back to 121.89 and beginning of growth in the 123rd figure.
Trading solutions: purchase from 121.89 to 123.90 (extraday).
Aleksey PanasenkoAnalyst of «FreshForex» company
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