Bears have nice levels for selling | 28 February 2017

28 February 2017, USD/JPY

Daily chart: ADX is weak yet, so Bollinger envelopes range of 111.55-114.73 is likely to retain.

Bears have nice levels for selling

Н4: more localized corridor is 111.80-113.54 (Bollinger envelopes), general chart structure is still declining. Besides, now the pair is on local resistance level of 112.71 (middle Bollinger band), here we may also have dollar supply that will cause decline.

Bears have nice levels for selling

Н1: bearish inside bar beyond Bollinger envelopes allows us to consider selling with stop orders above 117.11 region aiming at 112.29 and 111.90.

Bears have nice levels for selling

Expectations:

Core scenario - decline from current levels to 112.29 or to 111.90

Alternative scenario - rise to 113.54 followed by downward breakout.

Solutions:

1. Consider selling from current levels with stop order above 113.11 and take-profit at 112.29 and 111.90.

2. Consider limited selling at 113.54

Пополнение без комиссий в компании FreshForex

Aleksey Panasenko
FreshForex Analyst
Agree with the review?
Traders' opinion:
Close
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .
manager photo manager photo
Online-support
We will be pleased to answer any questions you may have

Write

Get bonus