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Decline towards 109.05

15 April 2016, USD/JPY

Daily chart: bulls are trying to finalize the highest point of correction - the middle Bollinger band (111.02), but it is evident that the overall potential does not favor them. Therefore, at any time the price can begin a new phase of the medium-term drop to the bottom band (107.37)

Decline towards 109.05

Н4: a locally upward trend. The resistance is at 109.99, support is at 109.05 and 107.94

Decline towards 109.05

Н1: we also notice weakening of the rising front and a well-expressed bearish momentum. Locally strong support is at 109.05 (bottom Bollinger band)

Decline towards 109.05

Expectations: drop to 109.05

Trading solutions: sell to 109.05

Aleksey Panasenko
FreshForex Analyst
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