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Decline to 100.04 and followed by an upward rollback

Decline to 100.04 and followed by an upward rollback | 26 August 2016

26 August 2016, USD/JPY

Daily chart: the pair retains southern orientation towards 99.00 (bottom Bollinger Band). At the same time, bears have no potential for a deeper breakthrough, cause ADX is turned down and is going through correction. It can also talk about continuation of flat at the current levels.

Н4: calm flat 100.04-100.67 (inside Bollinger envelopes)

Н1: local aggression towards 100.04. Intermediate support is at 100.34 (bottom Bollinger band), but it seems to be under load - ADX is in the active phase.

Expectations: fall to 100.04 and an upward bounce

Solutions: 1. Sell to 100.04

2. Buy from 100.04

Aleksey Panasenko
FreshForex Analyst
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