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The price may fall below psychological level 100.00

The price may fall below psychological level 100.00 | 27 September 2016

27 September 2016, USD/JPY

Daily chart: ADX is far from the active trend area, but it is growing, which creates prerequisites for the sellers' pressure on support 100.20 (the lower Bollinger band). If this level withstands, we will see a return to the middle band (102.08)

Н4: aggressive ADX and Bollinger envelopes have purely southern interests. We are waiting for a breakthrough of 99.99 and consolidation in the 99th figure! An upward rollback to the middle band is possible.

Н1: active ADX and bearish pressure remains. Support area 100.08 will almost certainly be broken.

Expectations: break below the psychological support 100.00, followed by consolidation in the 99th figure

Solutions: sell to 99.00

Aleksey Panasenko
FreshForex Analyst
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