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Little lower

15 June 2016, USD/JPY

Daily chart: a very strong trend ADX forces us to consider a purely southern scenarios. The nearest support is located at 105.32 (the lower Bollinger band).

Н4: here we see a quite well-shaped and long-term bullish convergence of the oscillator, so around 105.46, with a high probability, the northern signals can be formed

Н1: locally the pair is in a horizontal channel 105.77-106.16.

Expectations: The main scenario - decline to 105.46 and then an upward reversal.

The alternative scenario - flat 105.77-106.16

Trading solutions: 1. Sales to 105.46

2. Around 105.46 we shall monitor possible upward signals.

Aleksey Panasenko
FreshForex Analyst
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