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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.

Sales from around 102.94 - 103.32

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.

Sales from around 102.94 - 103.32

Н1: a better shaped resistance level 102.94 (middle Bollinger band). Support is at 101.51 (bottom band)

Sales from around 102.94 - 103.32

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 Panasenko
Analyst of «FreshForex» company
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