manager photo
Ask a question
We will be pleased to answer any questions you may have
Write Call
Log in

Yen. Further reduction is possibly

02 November 2016, USD/JPY

Daily chart: he pair has fallen down to the middle Bollinger band (103.86), and now the road for bears is open (102.46).


H4: intense and marked a breakthrough of the lower Bollinger envelope - it is traditionally a strong bearish signal.


H1: locally ADX is very aggressive, so count on a strong upward correction is not necessary. Support - 103.86, resistance - 104.63.


Expectations:The main scenario - fall to 102.46. Alternative Scenario - upward correction towards 104.63.

Trading solutions: So, looking for short positions towards 102.46.

Aleksey Panasenko
FreshForex Analyst
See also:
Agree with the review?
Traders' opinion:
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 .