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Drop to 100.59

27 June 2016, USD/JPY

Daily chart: expansion of the bottom envelope can be a sign of a new drop. At the same time, a rollback to the middle Bollinger band (106.35) seems to be appropriate.

Н4: a much better shaped resistance 104.17 (middle Bollinger band).

Н1: clamping of the pair within Bollinger envelopes (100.59-104.17). ADX has not reached the trend of value yet, but it is growing. Therefore, purchase is not considered

Expectations: drop to 100.59

Solutions: sell to 100.59

Aleksey Panasenko
FreshForex Analyst
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