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Will trend signals inside the flat be justified?

26 April 2016, USD/JPY

Daily chart: the pair predictably failed to finalize the upper Bollinger band (113.58), having formed a counter-bar. However, everything happens on weak ADX, so meanwhile we do not expect impulse directional movement. Previously, the area around the middle Bollinger band (110.25) may be a potential area for Buy trades to 113.58.

Н4: a better expressed support 110.48 (middle Bollinger band). Local resistance is at 112.06 (upper band).

Н1: Bollinger bands are squezzed so we can talk about preparation of impulse. At the same time, ADX is very weak again, so the signal can be false. Support is at 111.00 (the bottom Bollinger band) and zone 110.25-111.48 (bundle from the two middle bands).

Expectations: The main scenario - decline to 110.48 and then growth towards 112.06

The alternative scenario - growth from current levels to 112.06

Trading solutions: look for Buying options around 110.48 to hit 112.06

Aleksey Panasenko
Analyst of «FreshForex» company
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