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We shall omit this day

13 May 2016, USD/JPY

Daily chart: the pair continues to cicrulate around the middle Bollinger band (108.73). ADX is weak, so, probably, the outcome will happen next week.

Н4: the pair is clamped within the range of Bollinger envelopes (108.28-109.37). ADX is weak, it shows correction, so it is unlikely that the corridor will be broken today

Н1: surprise! Bearish pressure from ADX. Let's see how true this signal would be whereas general reversal symptoms are here (double top, divergence of oscillator). Support is at 108.59 and 108.28.

Expectations: fall to 108.28 and then rebound to 108.96

Trading solutions: omit this trading day.

Aleksey Panasenko
FreshForex Analyst
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