A strong medium-term signal
07 November 2016, USD/JPY
Daily chart: a very important and strong medium-term bullish signal - inside bar from the lower Bollinger band! This may mean finalization of the upper Bollinger band (105.04) this week.
Н4: two inside bars in a row - it is, on the one hand, mean consolidation and flat; on the other hand, it may by a day confirmation signal. That's why we are waiting for move upwards towards the upper Bollinger band (104.6), and, at the same time, take into account the possibility of pricks of the lower band area (102.28)
Н1:at this local frame, the pair has entered the horizontal flat corridor 102.85-103.29. ADX is weak, so markets can trade this range for little to provide volumes by buyers.
The main scenario - flat 102.85-103.29
The alternative scenario - impulse growth can start at any point in the direction of 103.86, 104.64 Therefore, even if the main scenario is true, we can use drop to 102.85 to open the medium-term purchases
Trading solutions: buying around 102.85 and keep positions until 104.64 is finalized.
Aleksey PanasenkoAnalyst of «FreshForex» company
Do you have any suggestions to make our website better? Have you noticed an error on the site? Tell us