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.
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