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Decline to 115.25 - buying again

Decline to 115.25 - buying again | 09 January 2017

09 January 2017, USD/JPY

Daily chart: Friday bullish inside bar is unlikely to influence the trend. Important resistance level for bears is upper Bollinger band (118.38 range). Bears must prevent buyers from going higher, otherwise all their achievements will be offset.

Decline to 115.25 - buying again

Н4: 118.38 resistance level is confirmed, however, bears may attack from the current levels (see blue arrow). Support level is in 115.25 (lower Bollinger band)

Decline to 115.25 - buying again

Н1: potential dollar demand within the frame of distinct bullish Over&Under pattern is focused on 115.25. So, this area now presents interest as decline target.

Decline to 115.25 - buying again

Expectations: wait for decline towards 115.25 and later new upmovement

Solutions:

1. Sell towards 115.25

2. Buy from 115.25

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