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Preparing to growth to 102.20

22 August 2016, USD/JPY

Daily chart: an ongoing upward correction in the form of a rollback in the direction of the middle Bollinger band (102.20), from where a new medium-term decline towards 98.46 (the bottom Bollinger band) is expected to start.

Н4: some bullish pressure, which is correlated to expectation of growth to 102.20

Н1: trading within the upper Bollinger envelope (100.42-100.97) before growth.

The main scenario - flat 100.42-100.97

The alternative scenario - an upward move towards 102.20

Trading solutions: purchase from 100.42 to 102.20 (extraday)

Aleksey Panasenko
FreshForex Analyst
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