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Local bearish trend

29 February 2016, USD/JPY

Daily chart: pair is lead to bottom Bollinger line (109.50) in medium-term

Local bearish trend

Н4: local support is on 112.59 (middle Bollinger line), this level could throw pair to the direction of upper Bollinger line (114.17)

Local bearish trend

Н1: support is on 112.59, resistance is 113.43. ADX is active, so down break throw is possible.

Local bearish trend

Expectation: decrease to 112.59 level and then probably it would be break throw of this support and further decreasing.

Trading decisions: sell to 112.59 and 112.00

Aleksey Panasenko
FreshForex Analyst
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