We are looking for signals and corrections in 111.89 zone
11 February 2016, USD/JPY
Daily chart: it is active phase of decrease but it is third bar in a row outside the Bollinger Envelope. It leads to possible correction at nearest time.
Н4: Bulls oscillator convergence is noticeable and means about local pressure decrease and possibility of pullback to middle Bollinger line (115.01) it would be point for sell.
Н1: Support is on 111.89 level, resistance is on 113.77
Expectation: decrease to 111.89 and then bounce upwards to 112.54 and maybe to 113.77
1) sell to 111.89
2) look for signals and buy into 111.89 zone.
Analyst of «FreshForex» company
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