Sales on correction are possible | 15 نوفمبر 2016
15 نوفمبر 2016, USD/JPY
Daily chart: the price has broken the upper Bollinger envelope again giving grounds for correction to the middle band to move to new highs in the medium run.
Н4: local resistance at 108.84 (upper Bollinger band) can still be tested. Support is at the middle Bollinger band (106.98), after break of which we can talk about the local downward reversal.
Н1: flat corridor inside Bollinger envelopes (107.71-108.56). ADX is weak, so the day can be spent within the flat inside this corridor.
The main scenario - flat 107.71-108.56
The alternative scenario - fall to 107.00
Trading solutions: consider sales on correction to 107.71 and 107.00 from around 108.56
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.
