Little lower | 15 June 2016

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
Agree with the review?
Traders' opinion:
Close
Log in
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 .