Nice entry point for selling | 20 Enero 2017
20 Enero 2017, USD/JPY
Daily chart: it seems that upward correction is almost over. The correction reached middle Bollinger band region. Here we have a good spot to start decline towards 113.25 (lower band)
Н4: strong resistance level in 115.43 region (upper Bollinger band) shows distinct potential for the downside yet meeting the expectations of decline within daily chart scenario.
Н1: we are observing local bearish Over&Under pattern starting from 115.43 region. One may sell setting a good stop over the last maximum.
Expectations: another touch in 115.43 region and then decline towards 113.25
Solutions: consider selling from 115.43 to 113.25
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.
