Potential Sell-Stop level | 07 March 2017

07 March 2017, USD/JPY

Daily chart: flat corridor of 111.61-114.73 is still valid. So bullish pressure on resistance level at 114.73 is getting weaker.

Potential Sell-Stop level

Н4: more localized corridor is 113.57-114.50. We also see downward Over&Under pattern from 114.50. It enables us to sell with stop-loss above 114.73. This is a nice set-up for intraday trading.

Potential Sell-Stop level

Н1: here we have passive flat of 113.67-114.06. This corridor is not likely to change during the day.

Potential Sell-Stop level

Expectations: either flat in 113.67-114.06 or rise towards 114.50 followed by 100-pip drop.

Solutions: consider placing sell limits from 114.50 with stop-loss at 114.80 and take-profit at 113.50

Potential Sell-Stop level

Aleksey Panasenko
FreshForex Analyst
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