Flat range | 16 September 2016

16 September 2016, USD/JPY

Daily chart: The pair continues to consolidate at the middle Bollinger band (102.28). Indifferent ADX and stable Bollinger envelopes suggest that this trend will continue today.

Flat range

Н4: a horizontal corridor inside Bollinger envelopes (101.54 - 103.01). Bands are stable. Borders of the flat represent psychological levels.

Flat range

Н1:the intermediate support 102.01 (bottom Bollinger band plus the round level). ADX is weak, though rising. This enables different scenarios for the future (from the upward rebound to a break down)

Flat range

The main scenario - flat 102.01-102.60

The alternative scenario - fall to 101.54

Trading solutions: wait for touch of one of the borders of the flat 101.54 and 102.60 to find entry points in a trade

Aleksey Panasenko
FreshForex Analyst
Agree with the review?
Traders' opinion:
Close
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .
manager photo manager photo
Online-support
We will be pleased to answer any questions you may have

Write

Get bonus