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Flat day

19 September 2016, USD/JPY

Daily chart: ADX is diving down, so the pair will obviously continue its fluctuations around the middle Bollinger band (102.08)

Н4: a horizontal corridor limited by Bollinger bands (101.77-102.91); there is suspicious activity of ADX, which is growing and came close to the trendline area. This may lead to a breakthrough of the corridor, although sensitivity of ADX to 4-hours' frame is rasing questions.

Н1:a stable corridor - 101.82-102.49 (the range of Bollinger envelopes) and ADX is very weak and passive, so the flat scenario, nevertheless, is more likely. Although we cannot ignore pressure from the H4, therefore, on the borders of the range will need additional signals

Expectations: flat 101.82-102.49

Solutions: trade in both directions inside the corridor 101.82 - 102.49.

Aleksey Panasenko
FreshForex Analyst
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