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Yen. The bullish trend, but with local difficulties

28 October 2016, USD/JPY

Daily chart: there is a bullish trend here, and also active ADX, so buyers can reached not only upper Bollinger band, but even next target - 106.74.

28102016y1

H4: there is overbought, but the oscillator has not shown signs of divergence yet, so we expect upwards moving. ADX is very active.

28102016y2

H1: locally pair has difficulty with the potential, so we can expect a stop inside the top of the Bollinger envelope (105.11-105.54)

28102016y3

Expectations: The main scenario - move to 105.74 Alternative scenario - the rollback from 105.54 zone to 105.11 zone.

Trading solutions: So, looking for buy signals to 105.74 and 106.74, but keep in mind the possible alternative scenario.

Aleksey Panasenko
Analyst of «FreshForex» company
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