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Finalization of 104.59 and then a downward rollback

Finalization of 104.59 and then a downward rollback | 13 October 2016

13 October 2016, USD/JPY

Daily chart: very active trend ADX favors buyers, who now have a chance and space to attack up the medium-term target 106.55.

Finalization of 104.59 and then a downward rollback

Н4: a well expressed divergence of the oscillator, on the one hand, anticipates a downward correction, but on the other hand, tells us that new highs can be finalized before the pullback. Intermediate resistance is at the upper Bollinger band (104.42)

Finalization of 104.59 and then a downward rollback

Н1: the upper Bollinger band is looking upward, confirming preservation of bullish potential, and points to 104.59, which will be the target. Support is at the middle Bollinger band (103.90)

Finalization of 104.59 and then a downward rollback

Expectations: growth to 104.59 and then a downward correction towards 103.90

Solutions: sale from 104.59 to 103.90

Aleksey Panasenko
FreshForex Analyst
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