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The range 108.43-109.24

17 May 2016, USD/JPY

Daily chart: the situation is not changing for many days - the pair is cucrulating around the middle Bollinger band (108.72), accumulating potential for emission to either surge to the top (111.97) or move to the bottom (105.51) Bollinger band

Н4: a horizontal flat range within the Bollinger envelope (108.43-109.24). ADX is very weak, so probably this corridor will remain to be relevant (which matches the scenario with the daily chart).

Н1: here we find a local bullish pressure, so we are waiting for surge to 109.24 and then a downward bounce.

Expectations: surge to 109.24 and then began of decline towards 108.43

Trading solutions: sell from 109.24 to 108.43

Aleksey Panasenko
Analyst of «FreshForex» company
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