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Premarket view on the yen

Premarket view on the yen | 25 January 2016

25 January 2016, USD/JPY

Daily chart: the price has reached a strong resistance at the middle Bollinger band (118.72). From hence a new decline is possible towards 116.00 (the bottom band)

Premarket view on the yen

Н4: and here, as we can see, the upper Bollinger envelope has been broken on the background of enhanced activity ADX, therefore we are based on the scenario implying touch of the middle band (117.54) and a further growth.

Premarket view on the yen

Н1: a more localized support ( 118.23) at the middle Bollinger band.

Premarket view on the yen

Expectations: The main scenario - fall to 118.23 and then growth to 119.00 The alternative scenario - drop to 117.54 and then working out based on the main scenario.

Trading solutions: we are waiting for a Buy signal on one of the supports - 118.23 or 117.54 and then buy to 119.00

Aleksey Panasenko
FreshForex Analyst
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