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Sell to 108.59

Sell to 108.59 | 14 April 2016

14 April 2016, USD/JPY

Daily chart: a continued technical upward correction towards the middle Bollinger band (111.02). This area will be very beneficial for opening short trades, because it is also a psychological level. The overall goal of the mid-term drop remains to be 107.57 (the bottom Bollinger band)

Н4:very active ADX favors of bulls now. Local levels of support and resistance - 108.59 and 109.67 (the middle/upper Bollinger Band).

Н1: here we have expressed signs of weakened bull front - bearish divergence of oscillator. The pair is sandwiched between 109.10 and 109.48, and, if these levels turn to be weak, it may fall to 108.59.

Expectations: touch of 109.48 and drop to 109.10 and then to 108.59

Trading solutions: sell from 109.48 to 108.59.

Aleksey Panasenko
FreshForex Analyst
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