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Falling deeper

Falling deeper | 20 June 2016

20 June 2016, USD/JPY

Daily chart: a very active trend ADX shows a full advantage of sellers, who have all chances to produced an even deeper downward movement to 103.00 and 102.00.

Н4: alsj an aggressive status of ADX. Despite a certain extent of oversoldness, there are many doubts that the pair will retain support 103.38 (bottom Bollinger band)

Н1: a local support lies at 104.00 (the bottom Bollinger band). But we can not ignore the trend activity from ADX, so far there are no other options but for a deeper fall of the pair.

Expectations: decline to 103.00 and possibly to 102.00

Trading solutions: sell to 103.00 and 102.00

Aleksey Panasenko
FreshForex Analyst
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