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Intraday decline within the Daily flat

18 April 2016, USD/JPY

Daily chart: the pair has reached a well-shaped flat horizontal corridor within the Bollinger envelopes (1.4015-1.4436) and passive ADX. Obviously, we can expect a rotation around the middle Bollinger band (1.4220) rather than "wall-to-wall" trading

Intraday decline within the Daily flat

Н4: a more localized flat range 1.4104-1.4272). Here we are confused with enhanced activity of ADX, that can create a strain on the support 1.4104.

Intraday decline within the Daily flat

Н1: also active ADX, we waiting for a breakthrough of the bottom envelope (1.4145) and then towards 1.4104.

Intraday decline within the Daily flat

Expectations: decline towards 1.4104 and possibly lower.

Trading solutions: sales to 1.4104. On weakening of the bears around ​​1.4104 and on Buy signal - we can try to avail from the upward movement to 1.4220

Aleksey Panasenko
FreshForex Analyst
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