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Buy from 105.71

19 July 2016, USD/JPY

Daily chart: what is happening is very similar to northern training. If this scenario is correct, then we have to wait for a breakthrough of the upper envelope, and then return to the area of ​​the middle Bollinger band (103.41)

Н4: the price shows a bullish momentum, but because of weak ADX we can assume a certain period of trading inside the corridor 105.34-106.51

Н1: an aggressive bullish ADX indicates willingness of buyers to act not later than support 105.71 (middle Bollinger band) will be touched

Expectations: a rollback to 105.71 and then an upward movement to 106.51

Solutions: purchase from 105.71 to 106.51

Aleksey Panasenko
Analyst of «FreshForex» company
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