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Decline to 98.52 is possible

18 August 2016, USD/JPY

Daily chart: a continued gradual drop of the pair towards the bottom Bollinger band (98.52). At the same time it is clear that, from ADX point of view, everything is just beginning - the goal in the end could be much more ambitious.

Н4: there is an accumulation of bearish pressure from ADX, so we are waiting for a breakthrough of support 99.69 (the bottom Bollinger band)

Н1: a similar picture, but it is clear that support of 99.59 slightly delay the pair inside the flat because ADX is going through correction

The main scenario - decline towards 98.52

The alternative scenario - decline to 99.59 and then flat inside 99.52 - 100.22

Solutions: sales to 98.52

Aleksey Panasenko
FreshForex Analyst
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