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Flat range

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
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