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Two resistance lines to search entries into sales

Two resistance lines to search entries into sales | 17 August 2016

17 August 2016, USD/JPY

Daily chart: drop to to 99.00 (the bottom Bollinger band). At the same time, we see that ADX has not even reached the active trend zone yet, which can cause a deep drop of the pair

Н4: resistance is at 101.11 (the middle Bollinger band), support is at 100.03 (the bottom Bollinger band plus a round psychological level)

Н1: a better shaped resistance is at 100.41 (the middle Bollinger band), support is at 99.68 (the bottom Bollinger band)

The main scenario - touch of 100.41 and then fall to 99.68 and an eye on 99.00

The alternative scenario - correction to 101.11 and then fall to 99.68

Trading solutions: consider downward entries around 100.41 and 101.11.

Aleksey Panasenko
FreshForex Analyst
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