Looking for sales opportunities around 108.75-108.92 | 13 April 2016

13 April 2016, USD/JPY

Daily chart: the expected upward correction has started toward the middle Bollinger band (111.49). Situation for bulls is shaky because ADX keeps very active parameters. Counter trend trade is very dangerous.

Н4: clamping range within the Bollinger envelopes(107.82-108.92), which are getting more narrow. We also have a strong ADX, which can be interpreted in favor of sellers

Н1: A local upward correction could test the upper zone Bollinger bands (108.76-108.92), whereupon the pair seems to fall into the zone of 107.94 (the bottom Bollinger band).

Expectations: now, we expect touch of 108.76-108.92 and then decline to 107.94 Trading solutions: sell from 108.76 to 107.94. It is better to wait for additional short-signals around 108.76-108.92 to have a more "clear" Stop orders

Aleksey Panasenko
FreshForex Analyst
Agree with the review?
Traders' opinion:
Close
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .
manager photo manager photo
Online-support
We will be pleased to answer any questions you may have

Write

Get bonus