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Yen. The bulls are looking for 105.53

27 October 2016, USD/JPY

Daily chart: the pair is oriented to the upper Bollinger band 105.53, and we should note ADX rising trend parameters, which suggests the potential for rework such a goal as early as this week.

27102016y1

H4: growth occurs locally on correctional ADX, so we can expect another correction in the direction of the middle Bollinger band (104.26) from the 104.77 zone resistance (upper band of the Bollinger)

27102016y2

H1: here we note the bullish momentum, there is a rebound from the middle Bollinger band. Only the lack of ADX options can say that The resistance zone of 104.77 may be strong today, because of ADX options lack.

27102016y3

Expectations: The main scenario - growth to 104.77 and then roll back down to 104.42. Alternative scenario is the upside breakout to 105.53.

Trading solutions: we are looking for long positions from 104.42 towards 105.53 area.

Aleksey Panasenko
Analyst of «FreshForex» company
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