Log in

Expect a downward bounce from 107.36

05 May 2016, USD/JPY

Daily chart: there is still a potential both for drop (as indicated by the downward envelopes and the bottom Bollinger band, indicating the below levels) and reversal (on the background of bullish oscillator convergence, and goals in the middle Bollinger band - 108.97).

Н4: horizontal envelopes with the flat 105.82-107.36. From the intraday point of view - drop from current levels.

Н1: bulls are trying to attack, but ADX treats such attempts as a non-trend attempt. So we expect a downward rebound to 107.36 (the upper Bollinger band). Local support is located at 106.57 (the bottom Bollinger band).

Expectations: drop from 107.36 to 106.57

Trading solutions: sale from 107.36 to 106.57

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.