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A possible workout of psychological level 100.00

A possible workout of psychological level 100.00 | 10 August 2016

10 August 2016, USD/JPY

Daily chart: the pair is in the broad flat 100.01 - 107.85 and is already very close to the most strongest mark 100.00 in term of psychology. There is a high probability that at this price USD will be bought back.

Н4: a better shaped levels of support and resistance, respectively - 100.89/102.84

Н1: a local resistance from the middle Bollinger band (101.78), from where bears may try to finalize 100.89 and 100.00

Expectations: rise to 101.78 and then fall towards 100.89 and possibly to 100.00

Solutions: sales from 101.78 to 100.89 and 100.00.

Aleksey Panasenko
FreshForex Analyst
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