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Sales to 108.12

Sales to 108.12 | 19 April 2016

19 April 2016, USD/JPY

Daily chart: Bears were unable to bring the pair to bottom Bollinger band and now touch of midline (110.70) looks realistic, from where the price can start a medium-term decline towards 107.02

Н4: the pair is in the bottom envelope (range 108.12-108.99). If the price hits the upper envelope, we will expect movement of the upper band (109.92).

Н1: a horizontal flat corridor within the Bollinger envelopes (107.69-108.99). Whereas ADX is passive, we expect a fall to the bottom wall of the corridor.

Expectations: drop from current levels towards 108.12 and possibly to 107.69

Trading solutions: sale to 108.12 and 107.69

Aleksey Panasenko
FreshForex Analyst
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