manager photo
Online Assistant
We will be pleased to answer any questions you may have
Write Call
Log in

Resistance 103.45 will throw the pair down

01 July 2016, USD/JPY

Daily chart: a continued technical correction towards 105.06 (middle Bollinger band), from where a new wave down to 110.59 (the lower Bollinger band) is likely to take place.

Н4: a local area of resistance 103.45 (upper Bollinger band). ADX is rising, but has not reached the trendline area yet, so we a downward rebound (blue arrow) and growth to 105.06 (purple arrow) are equally probable.

Н1: the price cannot get above 103.45 (upper Bollinger band) due to very weak ADX parameters. Support is at 102.85 (middle band)

Expectations: rise to 103.45 and then fall to 102.85

Solutions: sell from 103.45 to 102.85

Aleksey Panasenko
FreshForex Analyst
See also:
Agree with the review?
Traders' opinion:

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

Tell us

Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .