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Decline

Decline | 22 July 2016

22 July 2016, USD/JPY

Daily chart: a well expressed bearish momentum from the upper Bollinger band (107.64) and growing ADX making the fall to 103.73 (middle Bollinger band) and 99.91 (the lower Bollinger band) much likely in the future.

Н4: a flat zone within the envelopes 105.28-107.09

Н1: pressure from ADX indicates that sellers are ready to test the lower Bollinger band (105.28), and perhaps, break it.

The main scenario - decline to 105.28 followed by an upward bounce The alternative scenario - a breakthrough of 105.28 and decline towards 103.73

Trading solutions: sales to 105.28 and possibly to 103.73

Aleksey Panasenko
FreshForex Analyst
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