A potential area of supply on Yen - 108.71 | 06 مايو 2016
06 مايو 2016, USD/JPY
Daily chart: a continued technical correction in the direction of the middle Bollinger band (108.71). We assume that from this area a new decline towards 105.91 (the bottom band) will start.
Н4: a horizontal corridor within Bollinger envelopes (105.82-107.70). NFP release increases an extent of uncertainty regarding direction of further movement.
Н1: a better shaped flat 106.98-107.46. But we will not count on its reliability, too.
Expectations: So, let's not make any guesses on what will happen upon NPF release. But a technically correct scenario suggests a surge to 108.71 and then fall down to 105.51 < / p>
Trading solutions: we shall abstain from trading today or are look for sales around 108.71
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.
