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The range 101.00-101.56

The range 101.00-101.56 | 03 October 2016

03 October 2016, USD/JPY

Daily chart: the pair is the ascending phase of the flat (the range of Bollinger envelopes 99.83-103.65), therefore, on breakthrough of resistance 101.69 (middle Bollinger band) finalization of 103.65 ix expected, it may not happen quickly in the impulsive manner: ADX is openly corrective.

Н4: an upward momentum is noticed, so the main expectation is a touch of the area 101.69 and then a test of price reaction to this zone. If ADX shows the trend potential and developes upwards, bulls will get significant potential. In the meantime, we are based on trading within the upper envelope (101.00-101.69)

Н1: the same situation - the range (101.00 - 101.56), ADX is also weak.

Expectations: continuation of trading inside the flat corridor 101.00-101.56

Solutions: purchases from 101.00 to 101.56

Aleksey Panasenko
FreshForex Analyst
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