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Sales Area – 107.13

24 June 2016, USD/JPY

Daily chart: the price has almost reached the middle Bollinger band (107.13), from where a new descending wave to the lower Bollinger band (102.85) may start.

Sales Area – 107.13

Н4: a growing (but not yet trend) ADX. Plus we have four bars out of Bollinger envelopes - a sign of correction. Support is at the middle Bollinger band(104.73).

Sales Area – 107.13

Н1: a high degree of overboughtness of the oscillator and ADX. It can also anticipate a downward rebound from 107.13. Support is at 105.29.

Sales Area – 107.13

Expectations: now, we are waiting for finalization of 107.13 and then fall to 105.29

Solutions: sale from 107.13 to 105.29

Aleksey Panasenko
Analyst of «FreshForex» company
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