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The daily corridor 104.03-104.75

14 July 2016, USD/JPY

Daily chart: the pair is within the Bollinger envelopes (100.23-106.51). ADX shows correction, so movement can be multi-directional and ragged.

Н4: a well-shaped resistance is at 106.02 (the upper Bollinger band); support is at 102.92 (the middle band)

Н1: intraday the pair has settled in the local horizontal corridor 104.03-104.75.

Expectations: flat 104.03-104.75

Solutions: a cautious trading on both sides of the corridor 104.03-104.75

Aleksey Panasenko
FreshForex Analyst
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