The range 108.43-109.24 | 17 May 2016
17 May 2016, USD/JPY
Daily chart: the situation is not changing for many days - the pair is cucrulating around the middle Bollinger band (108.72), accumulating potential for emission to either surge to the top (111.97) or move to the bottom (105.51) Bollinger band
Н4: a horizontal flat range within the Bollinger envelope (108.43-109.24). ADX is very weak, so probably this corridor will remain to be relevant (which matches the scenario with the daily chart).
Н1: here we find a local bullish pressure, so we are waiting for surge to 109.24 and then a downward bounce.
Expectations: surge to 109.24 and then began of decline towards 108.43
Trading solutions: sell from 109.24 to 108.43
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.
