Looking to buy on downward pullbacks | 29 January 2016

29 January 2016, USD/JPY

Daily chart: strong resistance around zone 120.23 (the upper Bollinger Band), support is 118.32 (middle band).

Looking to buy on downward pullbacks

Н4: here is northern dynamics of the pair on the background of news from Japan.

Looking to buy on downward pullbacks

Н1: overboughtness plus weakness of ADX make the probability of a downward rollback toward the middle Bollinger band (118.96) high

Looking to buy on downward pullbacks

Expectations: So, in general, we expect growth of the pair to 121.15, but also expect a pullback to the zone 119.00-119.35

Trading solutions: buy in case of a rollback to the zone 119.00- 119.35 with a view to 121.15

Aleksey Panasenko
FreshForex Analyst
Agree with the review?
Traders' opinion:
Close
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .
manager photo manager photo
Online-support
We will be pleased to answer any questions you may have

Write

Get bonus