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The range 101.59-102.08

The range 101.59-102.08 | 20 September 2016

20 September 2016, USD/JPY

Daily chart: the price is still rotating around the middle Bollinger band (101.84) and there is no reason for the price to change this trend. Markets are waiting for catalysts and drivers.

Н4: ADX is in the active zone, but it is going through correction, so far the support around 101.59 can be stable. Resistance is at the middle Bollinger band (102.08).

Н1: weak and corrective ADX prove that bears are not ready, which means that support 101.59-101.67 is going to withstand. Upon that, the potential for upward movement is small - 101.92-102.00. I confirm daily frame here, too.

Expectations: flat 101.59-102.08

Solutions: trade in both directions within the corridor 101.59-102.08

Aleksey Panasenko
FreshForex Analyst
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