Support lines on a ways of decline: 99.81 and 99.45 | 23 أغسطس 2016
23 أغسطس 2016, USD/JPY
Daily chart: the pair continues to keep moving to the bottom Bollinger band (98.45)
Н4: at this local frame, the price is concentrated within Bollinger envelopes (corridor 99.81 - 100.72)
Н1: an ambiguous situation. Support 99.81 looks quite robust and tight, but active ADX favors bears, which could allow them to rely on a deeper breakthrough.
The main scenario - decline to 99.81 and then rebound towards 100.26
The alternative scenario - fall to 99.45
Trading solutions: the range is not much suitable to open trade, although aggressive sellers can take a chance to open trades up to 99.45
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.
