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Yen. Flat accumulates some potential

Yen. Flat accumulates some potential | 01 November 2016

01 November 2016, USD/JPY

Daily chart: Bollinger bands are continue to narrow, ADX is growthing and that’s a signal for buyers. Current range is located between 104.00 and 105.39 levels.

01112016y1

H4: there is a more localized corridor of 104.24-105.39. ADX is weak and the adjustment, so waiting for further build capacity in this range.

01112016y2

H1:and note even more localized corridor within the Bollinger envelope - 104.70-105.13.

01112016y3

Expectations:So, we looking forward to the continuation of the flat in 104.70-105.13 corridor.

Trading solutions: there are two strong support levels at this chart, so look for buy signals near these support levels.

Aleksey Panasenko
FreshForex Analyst
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