Looking for the entry points into Buy trades | 26 September 2016

26 September 2016, USD/JPY

Daily chart: the pair has confirmed a rebound off the lower Bollinger band (100.26). On the one hand, it opens the way up to 102.14 (middle band). But on the other hand, ADX is corrective, which means that movement is unlikely to be unidirectional.

Н4: support from the lower Bollinger band is under the round psychological level 100.00 (around 99.88). But as mathematicians say, it is in the error zone (or, if we translate into financial terms, it is in the area of ​​market studs and removal of unnecessary buyers: 101.00 and 102.13 (the middle and upper Bollinger bands).

Н1: a better shaped support of 100.74 (the lower Bollinger band); resistance is at 101.22 (upper band). ADX is very close to the trend line, but it is corrective.

The main scenario - decline to 100.74 and then surge to 101.22

The alternative scenario - a shot in the area of ​​100.00, and then surge to 101.22

Trading solutions: So, we will look for purchase around 100.74 and 100.00

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