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Nice entry point for selling

Nice entry point for selling | 20 January 2017

20 January 2017, USD/JPY

Daily chart: it seems that upward correction is almost over. The correction reached middle Bollinger band region. Here we have a good spot to start decline towards 113.25 (lower band)

Nice entry point for selling

Н4: strong resistance level in 115.43 region (upper Bollinger band) shows distinct potential for the downside yet meeting the expectations of decline within daily chart scenario.

Nice entry point for selling

Н1: we are observing local bearish Over&Under pattern starting from 115.43 region. One may sell setting a good stop over the last maximum.

Nice entry point for selling

Expectations: another touch in 115.43 region and then decline towards 113.25

Solutions: consider selling from 115.43 to 113.25

Aleksey Panasenko
FreshForex Analyst
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