Log in

Looking down for growth signals

21 April 2016, USD/JPY

Daily chart: upward correction has almost reached the middle Bollinger band (110.89), from where the price will either start working out down towards 106.84 (the bottom Bollinger band, blue arrow), a breakthrough to the upper envelope and a medium-term growth in the direction of 114.36 (the upper band, the red arrow) .

Н4: a horizontal range of the Bollinger envelopes (108.10-109.86). ADX is rising, but has not reached the trendline area yet. This makes a downward pullback from current levels and an attempt of touch of 110.59 equally probable.

Н1: the pair is overbought, whereas ADX maintains parameters of trend. Buyers are to test new Highs. Support is at 109.25 (the middle Bollinger band)

Expectations: The main scenario - touch of 110.00 and then fall to 109.25

The alternative scenario - surge to 110.59 and then a drop

Trading solutions: we are looking for a Sell signal in areas 110.00 and 110.59. Goal is 109.25

Aleksey Panasenko
Analyst of «FreshForex» company
See also:
Agree with the review?
Traders' opinion:

Do you have any suggestions to make our website better? Have you noticed an error on the site? Tell us

Tell us

Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with rendering Personal area. How to enable cookie support.