Sales from around 102.94 - 103.32
07 September 2016, USD/JPY
Daily chart: a rollback to the middle Bollinger band (101.51), which has been almost finalized. An upward start from the mentioned zone is likely. But a well-expressed bearish momentum on the price chart that at least makes other scenario equally probable.
Н4: and here is a bearish pattern (breakthrough of the bottom Bollinger envelope). Typically, these setups are processed through a pre-roll back to the middle band (103.32), where at the moment is the best possible area for sales.
Н1: a better shaped resistance level 102.94 (middle Bollinger band). Support is at 101.51 (bottom band)
Expectations: now we are waiting for an upward rollback to 102.94 - 103.32, from where traffic will pass down to 101.51
Solutions: we are waiting for an additional Sell signal around 102.94 - 103.32. The goal is 101.51.
Aleksey PanasenkoAnalyst of «FreshForex» company
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