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102.51 can be finalized

20 October 2016, USD/JPY

Daily chart: the pair is in a phase of technical downward correction to the middle Bollinger band (102.51), from where bulls are expected to run a new attack in the direction to the upper Bollinger band (105.33)

102.51 can be finalized

Н4: at this local frame, trending bearish pressure is still maintained proving the scenario with finalizaion of 102.51 on the daily chart.

102.51 can be finalized

Н1: two local resistance lines: 103.44 and 103.80 (the middle and the upper Bollinger band, respectively). Given the scenario of a possible drop in the direction of 102.51, we can expect beginning of the downward phase from any of these areas.

102.51 can be finalized

Expectations: So, from one of the two zones (103.44 and 103.80) we expect a drop in the direction of 102.51

Solutions: look for downward enty points to 103.44 and 103.80

Aleksey Panasenko
Analyst of «FreshForex» company
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