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Downward Reversal

Downward Reversal | 28 November 2016

28 November 2016, USD/JPY

Daily chart: oscillator shows starting downward correction in direction of middle Bollinger band (107.49). ADX is agressive but its parameters are already extreme, which is a sign of correction. The pair is not expected to get higher than resistance level 114.25 (upper Bollinger band).

Downward Reversal

Н4: Resistance in 114.28 is confirmed. Supports are in 112.31 and 110.39 (middle and lower Bollinger band)

Downward Reversal

Н1: here is probable enty point for selling - 113.40, technically it is bears' pattern Over&Under! Sell ladies and gentlemen!

Downward Reversal

Expectations: wait for rollback to 113.40 and then sharp drop to 112.60, 112.31, 110.39.

Solutions: sell from 113.40 to 112.60, 112.31, 110.39.

Aleksey Panasenko
FreshForex Analyst
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