Log in

The area of possible supply is 104.90-105.15

08 November 2016, USD/JPY

Daily chart: we notice the presence of a bearish pattern - Over&Under. The entry based on this pattern has been almost perfected, so a confirming factor would be downward movement today. But US dollar can strengthen significantly on news from the United States. Although from a technical point of view, so far everything goes according to plan of sellers, because growth is against weak status of ADX.

Н4: another Over&Under is around 105.15. Here Bollinger bands maintain northern spirit. At the same time, again, to ADX is in a corrective direction that also indicates a lack of trend potential of buyers.

Н1: local resistance around 104.90 makes 104.90-105.15 resistance zone, which may contain good supply that can lower the pair to 103.62.

Expectations: growth to 104.90-105.15 and decline to 103.62

Solutions: sale from 104.90- 105.15 to 103.62

Aleksey Panasenko
Analyst of «FreshForex» company
See also:
Agree with the review?
Traders' opinion:

Do you have any suggestions to make our website better? Have you noticed an error on the site? Tell us

Tell us

Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with rendering Personal area. How to enable cookie support.