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Sell from around 101.00

Sell from around 101.00 | 11 July 2016

11 July 2016, USD/JPY

Daily chart: both Bollinger envelopes and ADX favor the continued downward movement aimed to break support at 99.59 (the bottom Bollinger band) down. But, psychological level 100.00 can be protected with Buy pending orders for a while.

Н4: Resistance is at 100.99, from where bears can launch an attack once again. The local support is at 100.25 (the bottom Bollinger band)

Н1: weak local ADX can suggest delay of the price inside Bollinger envelopes (100.25-100.099)

Expectations: flat inside 100.25-100.99

Solutions: sale from around 101.00 100.99

Aleksey Panasenko
FreshForex Analyst
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