Premarket view on the yen

21 December 2015, USD/JPY

Daily chart: 120.94 key support (the bottom Bollinger band). According to ADX, markets are not ready for a new phase of the fall (to 118.68, the red arrow), so we do not exclude an upward correction to the zone of the middle band (122.46).

Premarket view on the yen

Н4: we confirm the strong support zone 120.94 (the bottom Bollinger Band). ADX is not ready for a further breakthrough on, so our expectation is rebound around 121.95 (middle Bollinger Band).

Premarket view on the yen

Н1: lower support - 120.68 (the bottom Bollinger Band) - forms zone 120.68-120.94, where we will wait for formation of local signals of upward correction to 121.69 (mid band).

Premarket view on the yen

Expectations: touch of zone 120.68-120.94 and then rise towards 121.69

Trading solutions : purchase from the zone 120.68-120.94 to 121.69

Aleksey Panasenko
FreshForex Analyst
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