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Flat Continues

Flat Continues | 11 April 2017

11 April 2017, USD/JPY

Daily chart: flat continues within lower Bollinger envelope (109.35-111.68). ADX is dropping passively, so flat will be valid for some time.

Flat Continues

Н4: there is more narrow flat corridor of 110.33-111.52 (Bollinger bands range). ADX parameters are weak confirming flat market.

Flat Continues

Н1: support level around lower Bollinger band (110.86) protects the pair from dropping rapidly to 110.33. Resistance level is at 111.19 (middle band).

Flat Continues

Expectations:

Core scenario - flat within 110.86-111.19

Alternative scenario - drop to 110.33

Trading signals: consider trading within 110.33-111.19

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Aleksey Panasenko
FreshForex Analyst
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