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Short positions from 120.89

02 February 2016, USD/JPY

Day chart: there was an intraday bar after upper Bollinger envelope breaking, and the pair is likely go towards middle Bollinger band (118.42).

Short positions from 120.89

H4: localized support at middle Bollinger band (120.16), resistance – at 122.33 (upper band)

Short positions from 120.89

H1: more localized support level at 120.89 Expectations: the price will touch 120.89 and then go to 120.16 zone

Short positions from 120.89

Trading solutions: sell from 120.89 to 120.16 and 118.42

Aleksey Panasenko
Analyst of «FreshForex» company
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