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Decline to 104.00

28 July 2016, USD/JPY

Daily chart: probably the pair will face support at the middle Bollinger band (104.16), from where bulls will have a chance to attack 107.79 (the upper Bollinger band)

Н4: So far, at this local level the pair is consolidated within the lower envelope (104.00-105.27).

Н1: a local bearish pressure towards 104.16.

Expectations: drop to 104.00-104.16, from where the pair can bounce up

Solutions: sell from 104.00-104.17

Aleksey Panasenko
FreshForex Analyst
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