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Flat continues

25 August 2016, USD/JPY

Daily chart: strong resistance is at the middle Bollinger band (101.44), from where bears are expected to attack again in the direction of the bottom band (98.52). ADX is looking down, which indicates absence of the trend component in the current movement.

Н4: at this local frame, the pair has entered the flat horizontal channel within Bollinger envelopes (99.97 - 100.71)

Н1: a better shaped flat within the top Bollinger envelope (100.37 - 100.59). The range is too narrow to try to look for promising opportunities. ADX is very weak and is going through correction, so we can hardly expect a breakthrough this corridor's borders.

Expectations: Flat 100.37 - 100.59

Solutions: do not trade, skip this day

Aleksey Panasenko
FreshForex Analyst
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