Premarket view on the yen
28 December 2015, USD/JPY
Daily Chart: ADX has not yet reached the trend value yet, but the overall direction of accumulation looks purely south. As long as price holds level 120.27 (the bottom Bollinger Band), we expect a straight decline further (black arrow), and drop the after an upward rollback to the zone 121.00 (red arrow)
Н4:Here, in turn, hyperactive ADX, therefore, scenarios are the same as on the daily chart, but we shall exclude any thoughts about purchases.
Н1: also active ADX, so we are waiting for pressure at to support 120.08
Expectations: The main scenario - beginning of decline to 118.68 (after breakdown of support 120.08)
The alternative scenario - pullback up to 120.95 and then began of decline towards 118.68 (extraday)
Trading solutions: look for the entrances to the sale to the target 118.68. You can try to enter on breakdown of support 120.08, or sell from 120.95 area (in the case of an upward rollback).
Aleksey PanasenkoAnalyst of «FreshForex» company
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