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Yen. Looking for decline

10 June 2016, USD/JPY

Day chart: ADX increasing its activity, so a new phase of decline may begin at any time. Support stands at 106.33 (the lower Bollinger band), resistance - 109.05 (middle band). Yen. Looking for decline H4: there is sideways range within Bollinger envelopes (106.33-107.77). You had better consider short positions from the upper border of this channel. But there is a danger of large numbers of pips to Stop Loss. Yen. Looking for decline H1: locally the bulls show a reversal, so bears patience could eventually be awarded. Looking for signals down in zones 107.77 and 107.36. Yen. Looking for decline Expectations: So, we wait for the touch 106.86 area (and possibly 107.36). After that, there will be new decrease. Trading solutions: looking for short positions at 107.36 and 107.77 levels.

Aleksey Panasenko
FreshForex Analyst
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