Declining Flat | 06 April 2017

06 April 2017, USD/JPY

Daily chart: the pair is still trading within lower Bollinger envelope (109.29-112.36) declining slightly.

Declining Flat

Н4: much more narrow flat of 110.21-111.87 (Bollinger envelopes range). ADX parameters are changing, so it is not clear if downside breakout is likely to happen. However, momentum indicates that market is bearish.

Declining Flat

Н1: a valid trading range is 110.40-111.37. 100 pips are quite enough for trading. However, we would not recommend entering long while the price shifts rapidly as during the recent hours.

Declining Flat

Expectations: flat within 110.40-111.37

Trading signals: consider trading within 110.40-111.37.

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Aleksey Panasenko
FreshForex Analyst
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