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Looking for the downward entry points

16 June 2016, USD/JPY

Daily chart: the pressure from ADX is still escalating, so far it can be treated only in favor of bears. Support is still at the bottom Bollinger band (105.46). Potential of correction is limited by the middle band (108.59), but betting on growth would be too reliant.

Looking for the downward entry points

Н4: the two better shaped resistance lines - 106.23 and 106.98 (middle and upper Bollinger bands)

Looking for the downward entry points

Н1: consolidated range 105.79-106.40

Looking for the downward entry points

The main scenario: flat 105.79-106.40

The alternative scenario: move under 105.46 and below

Trading solutions: sale from 106.40 to 105.79 and 105.46

Aleksey Panasenko
FreshForex Analyst
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