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An upward impulse is possible

28 January 2016, USD/JPY

Daily chart: the pair is aimed to the upper Bollinger band (120.45), which will be met by strong resistance (considering descending upper line and passive ADX)

An upward impulse is possible

Н4: we also note weak ADX, so bulls may have a hindrance on their way represented by 118.96 (the upper Bollinger band).

An upward impulse is possible

Н1: we confirm an intraday resistance 118.96. Upon that, we can see a triangular consolidation, which can lead to an upward impulse to 120-th figure.

An upward impulse is possible

Expectations: flat 118.60-118.96

Trading solutions: We shall buy on return to 118.60 zone to 120.45 (extraday)

Aleksey Panasenko
Analyst of «FreshForex» company
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