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Sell after a rollback to 106.88

Sell after a rollback to 106.88 | 13 June 2016

13 June 2016, USD/JPY

Daily chart: ADX has entered the core area, which, so far, can be treated only in favor of sellers. It is also supported by a current downward trend and the expansion of Bollinger envelopes.

Н4: a flat channel within Bollinger envelopes ( 106.37-107.54). ADX is going through correction hindering an attack of bears.

Н1: ADX is also weak, so almost certainly there will be a rollback to the middle Bollinger band (106.88), from where sellers will try to "drop" the pair under 106.00.

Expectations: drop to 106.00-106.25 followed by a pullback to 106.88, whereupon the pair will take a new wave of decline to 105th figure

Trading solutions: sale from 106.88 to 105.80 (or lower, if you are willing to hold a trade a few days).

Aleksey Panasenko
FreshForex Analyst
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