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Sell from 113.66

Sell from 113.66 | 14 February 2017

14 February 2017, USD/JPY

Daily chart: although there have been some upward attacks, we still expect new drop towards lower Bollinger band (111.57) supported by general declining structure of the chart.

Sell from 113.66

Н4: at the moment price is inside upper Bollinger envelope (113.41-114.45). In support level region at 112.03 we can see upward Over&Under pattern. General decline is likely to have complex trajectory (including mid-term rise from 112.03 to 114.45)

Sell from 113.66

Н1: ADX/RSI move in opposite directions showing strong resistance in 113.66 region (middle Bollinger band). That's why we are expecting drop from 113.66 towards 112.03

Sell from 113.66

Expectations: we expect the price to touch 113.66 and then drop towards 112.03

Solutions:

1. Consider selling from 113.66 to 112.03

2. Consider limited buying from 112.03

Aleksey Panasenko
FreshForex Analyst
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