114.58 - nice entry for selling | 06 March 2017

06 March 2017, USD/JPY

Daily chart: ADX is growing but not at its extremes yet. That allows us to expect resistance level at 114.92 (upper Bollinger band) to hold and the price to pullback towards middle Bollinger band (113.17)

114.58 - nice entry for selling

Н4: here we are observing local bearish Over&Under pattern starting in 114.60 region which makes downside breakout more possible.

114.58 - nice entry for selling

Н1: we expect rollback towards 114.58, there we have a very attractive region of dollar supply. From here the price may drop towards 113.17.

114.58 - nice entry for selling

Expectations: rollback towards 114.58 followed by drop towards 113.17 from that region.

Solutions: consider selling from 114.58 to 113.17.

Пополнение без комиссий в компании FreshForex

Aleksey Panasenko
FreshForex Analyst
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