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Sell and Hold!

Sell and Hold! | 23 March 2017

23 March 2017, USD/JPY

Daily chart: yesterday bears ensured mid-term drop potential by breaking lower Bollinger envelope along with growing trend ADX. The pair may even drop to 105.00 region! Consider only entering short.

Sell and Hold!

Н4: bearish inside bar after upside correction is another nice short signal, that allows us to enter the market from current levels.

Sell and Hold!

Н1: support level around lower Bollinger band (110.84) may hold the price down for today, as ADX doesn't show growing trend. However, considering daily chart setup we can still count on breakout if not today, then tomorrow.

Sell and Hold!

Expectations:

Core scenario - drop to 110.84 region and delay here for today.

Alternative scenario - drop to 110.00 aiming at further decline.

Solutions: Consider selling and holding positions, if you are an experienced trader. If you are a beginner, you'd better to teke profit in 110.84 region to avoid stress because of possible rollbacks.

Пополнение без комиссий в компании FreshForex

Aleksey Panasenko
FreshForex Analyst
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