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Monday is a flat day

16 May 2016, USD/JPY

Daily chart: the pair is still being traded in the most unlucky spot - near the middle Bollinger band (108.73). ADX is passive, so probably potential will continue its accumulation further.

Н4: the range within the Bollinger envelopes (108.35-109.37). 100 points. Well, that can be traded.

Н1:we confirm a zone of support of 109.35 (the lower Bollinger band). Resistance is at 108.87.

Expectations: we expect flat in the range 108.35-108.87

Trading solutions: we consider purchases from support of 108.35. The targets are 108.87 and 109.20 (extraday).

Aleksey Panasenko
FreshForex Analyst
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