The price may choose 1 of the 2 ways today | 11 Noviembre 2016

11 Noviembre 2016, USD/JPY

Daily chart: ADX is corrective, ie, buyers do not have much potential for further upward moves. We can expect a downward correction to the middle Bollinger band (104.39)

The price may choose 1 of the 2 ways today

Н4: resistance is at the upper line of Bollinger (107.56), from where a new wave of upward movement is expected (if bears do not handle it before). Support is at the middle Bollinger band (105.14)

The price may choose 1 of the 2 ways today

Н1: a a local flat horizontal corridor inside Bollinger envelopes (106.34-106.93). ADX is weak and corrective. There is correlation between this sort of accumulation with Eurodollar.

The price may choose 1 of the 2 ways today

The main scenario - flat 106.34-106.93

The alternative scenario - move to 107.56 and the start of the correction down towards 105.14

Trading solutions: under the alternative scenario - sell from 107.56.


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.
Aleksey Panasenko
Analista de la empresa" FreshForex
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