Support for purchases - 100.68
23 September 2016, USD/JPY
Daily chart: as we expected, the price has bounce off the lower Bollinger band (100.26) upward. ADX is rising, so bulls have a chance to consolidate their success, even more so that the space for movement up to 104.00 (the upper Bollinger band) is open.
Н4: Here, in turn, there is very weak ADX, so resistance lines are 101.26, 102.08, 102.60. Support lines are 100.68, 100.26, 99.96.
Н1: yet weak, but rising ADX can lead to a breakthrough of the upper envelope (101.02) and release of the price to the 102-th figure. Support is at the level of 100.68 (middle Bollinger band), from where we can buy on a downward rollback.
Expectations: now, we are waiting for growth to 102.08, but with the possible delay because of a rollback to 100.68
Solutions: look for buying options (the best possible way: around 100.68)
Aleksey PanasenkoAnalyst of «FreshForex» company
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