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Psychological support 100.00 is at risk

03 August 2016, USD/JPY

Daily chart: the pair has predictably dropped to bottom Bollinger band, which in this case also lowered to 99.73. Thus, we can expect a breakthrough of psychological support 100.00.

Psychological support 100.00 is at risk

Н4: the oscillator has not shown signs of convergence, so zone 100.13 is under load, despite the fact the pair is oversold

Psychological support 100.00 is at risk

Н1: At the local level, the pair is in the horizontal corridor 100.54 - 101.68

Psychological support 100.00 is at risk

The main scenario - fall to 100.13

The alternative scenario - flat 100.54-101.68

Trading solutions: sales to 100.13 and possibly to 99.73

Aleksey Panasenko
Analyst of «FreshForex» company
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