manager photo
Online Assistant
We will be pleased to answer any questions you may have
Write Call
Log in

Looking for sales options on correction

11 May 2016, USD/JPY

Daily chart: bulls are in very good shape and the situation when they reach the upper Bollinger band (111.97) looks a very likely event now. Against the backdrop of a well shaped convergence of the oscillator, this scenario seems to have almost no alternative

Н4: the intermediate resistance of 109.53 (the upper Bollinger band) may correct the price around the middle band (107.80), from where, apparently, a new northern attack will run.

Н1:a local bearish divergence also says about the upcoming correction. Local support is at 108.46 (ascending bottom Bollinger band).

Expectations: The main scenario - decline to 108.46 and then start of a new ascending movement The alternative scenario - reach of 109.53 and then start of a downward correction towards 108.46

Trading solutions: looking for sales options on correction to 108.46.

Aleksey Panasenko
FreshForex Analyst
See also:
Agree with the review?
Traders' opinion:

We are constantly improving our website quality. If you have any suggestions on how to make our website better or noticed an error on the website, please tell us

Tell us

Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .