An almost 200-points' potential to drop
03 February 2016, USD/JPY
Daily chart: a successful job of a downward correction and the Inside Bar has been broken down. Therefore, we expect finalization of the area 118.42 (middle Bollinger Band).
Н4: we confirm the strong support area at 118.42 118.42.
Н1: a downward acceleration does not exclude a rollback to the middle Bollinger band (120.43), but does not cancel a deeper decline to 118.42 as well
Expectations: The main scenario - drop in the direction of 118.42. The alternative scenario - a preliminary pullback to 120.43 and then decline based on the core scenario.
Trading solutions: sale from 120.43 to 118.42
Aleksey PanasenkoAnalyst of «FreshForex» company
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