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Goals of buyers are 114.09 and 114.59

11 March 2016, USD/JPY

Daily chart: flat continues in wide range 111.99-114.59 (Bollinger Envelopes). ADX is passive it falls that is why this corridor can be trade without touching with sides. You should to be very modest in establishing aims in flat range.

Н4: horizontal corridor 112.24-113.97 could be under north load. ADX is rising and locating in active zone. It is strong resistance in 114.59 zone. If upper envelope is broken through we can consider correction in direction of middle Bollinger line (113.09)

Н1: local resistance is on 114.09 (upper Bollinger line). Support is on 113.37 (middle). ADX is rising so it is possibility that bulls will reach 114.59 aim.

Expectation:

Main possibility is growth to 114.59 and then correction to 113.37

Alternative possibility is down pullback from 114.09 and correction to 113.37.

Trading decisions:buy to 114.09 and 114.59

Aleksey Panasenko
FreshForex Analyst
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