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Looking for entry points down around 114.36

02 March 2016, USD/JPY

Daily chart: strong resistance in zone of the middle Bollinger band (114.36). From this level pair could decrease to bottom line (110.33)

Looking for entry points down around 114.36

Н4: it is possible attack of buyers in 114.36 zone, but in whole we are expecting decrease to middle line (113.24)

Looking for entry points down around 114.36

Н1: local north direction is remaining but it is strong possibility of decreasing correction because of possible oscillator divergence.

Looking for entry points down around 114.36

Expectation: we are expecting growth to 114.36 (it could be high spike and prompt pullback) and then correction to 113.24.

Trading decisions: sell form 114.36 zone to 113.24 after we get signals.

Aleksey Panasenko
FreshForex Analyst
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