We are looking for signals and corrections in 111.89 zone | 11 فبراير 2016
11 فبراير 2016, USD/JPY
Daily chart: it is active phase of decrease but it is third bar in a row outside the Bollinger Envelope. It leads to possible correction at nearest time.
Н4: Bulls oscillator convergence is noticeable and means about local pressure decrease and possibility of pullback to middle Bollinger line (115.01) it would be point for sell.
Н1: Support is on 111.89 level, resistance is on 113.77
Expectation: decrease to 111.89 and then bounce upwards to 112.54 and maybe to 113.77
Trading decisions:
1) sell to 111.89
2) look for signals and buy into 111.89 zone.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
