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

Yen. We expect the downward correction

23 May 2016, USD/JPY

Daily chart: the pair is still in a stable range of Bollinger envelopes, however, we see an aggression from ADX, therefore, 111.97-112.00 resistance zone (the upper Bollinger band) may be under stress. The general bullish potential is confirmed by a well-shaped convergence of the oscillator.

Н4: technical downward correction towards support 109.79 and 108.92 (middle and lower Bollinger bands, respectively)

Н1: also local signs of a downward correction - this divergence of the oscillator and consolidation inside the lower envelope. A strong local support zone - 109.86 (lower Bollinger band).

Expectations: fall to 109.86 and then an upward bounce to 110.21

Trading solutions: 1. Sales to 109.90. 2 Buy from 109.90 to 110.20

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 .