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Flat range

23 March 2016, USD/JPY

Daily chart: pair has come to the strongest resistance level 112.93 (middle Bollinger line) ADX is weak so pair is unlikely to rise. We are expecting down pullback and we can look for local short- signals on small charts of this zone.

 Flat range

Н4: it is the same situation. Chart is into flat. Local resistance is on 112.55 level (upper Bollinger line). Support is into 111.81 zone (middle line).

 Flat range

Н1: it is also flat frame. Range of upper envelope 112.19-112.70 is trading corridor on today.

 Flat range

Expectation:rising flat into range 112.19-112.70

Trading decisions: careful not " greedy " trade into flat.

Aleksey Panasenko
Analyst of «FreshForex» company
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