Decline to 103.47 and new growth to

21 October 2016, USD/JPY

Daily chart: bullish momentum is maintained in the direction of the upper Bollinger band (105.46), but ADX is corrective, indicating that there is no trend potential. Support is at the middle band (102.65)

Н4: at this local frame, the pair is consolidated within Bollinger envelopes (103.34-104.19) and, most likely, this corridor will be relevant for today.

Н1: a little better shaped corridor 103.47-104.06. ADX is in a very active trend area and visually this activity can be correlated with the bearish front.

The main scenario - drop from current levels to ​​103.47 and then surge to 104.06

The alternative scenario - a direct surge to 105.46

Trading solutions:

1. Sales to 103.47

2. Purchases from 103.47

Aleksey Panasenko
FreshForex Analyst
See also:
Agree with the review?
Traders' opinion:
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .
© 2004—2018 FreshForex – Forex broker
manager photo
Ask a question
We will be pleased to answer any questions you may have
Write Call