Rebound from the zone 120.38-120.52 is expected | 23 Diciembre 2015
23 Diciembre 2015, USD/JPY
Daily chart: the pair tends to continue decline, but at the same time, we have constraints which is conveyed by weak ADX. Key support - 120.52 (bottom Bollinger Band)
Н4: we confirm 120.38-120.52 support zone. The resistance is 121.51.
Н1: meanwhile the chart is within the flat range 120.83-121.25, but ADX is close to an active zone, so I would consider antry points only along edges of the range 120.38-121.51.
Expectations: decline to the zone 120.38-120.52 and then an upward pullback to 121.25 and possibly, 121.51.
Trading solutions: 1) Buy from the zone 120.38-120.52 to 121.25 2) Sales from 121.51 to 120.52
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.
