Decline to 101.84 is expected

21 September 2016, USD/JPY

Daily chart: Bollinger bands are getting much narrower and there were the first impulse price movement inside the range of envelopes (100.31-104.11). ADX is weak and does not show an initiative, therefore, despite the serious bullish momentum, we still expect multidirectional vibrations around the middle Bollinger band (102.00)

Н4: news" stick" broke through the upper envelope, but to ADX does not have a trend component. Therefore, we are waiting for a return to the middle Bollinger band (102.01)

Н1: some bars outside Bollinger envelopes and also very weak ADX. The middle Bollinger band is slightly lower (101.84) and it will be direction for the next few hours

Expectations: fall to 101.84

Solutions: Sell to 101.84

Aleksey Panasenko
FreshForex Analyst
See also:
Agree with the review?
Traders' opinion:
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 .
© 2004—2018 FreshForex – Forex broker
manager photo
Ask a question
We will be pleased to answer any questions you may have
Write Call