Trading on resistance 103.03 | 29 Juni 2016
29 Juni 2016, USD/JPY
Daily chart: the bullish inside bar was obtained, which paves the way for an upward correction to the middle Bollinger band (105.80). But in general, the Bollinger envelope are bearish.
Н4: two resistance line, each of them may contain a massive supply for US dollar - it's 102.73 and 105.80 (middle and upper Bollinger bands)
Н1: strong local resistance 103.03 (upper Bollinger band, plus all the psychological level). Support is at 102.33 and 101.63 (middle and lower Bollinger bands)
The main scenario - touch of zone 103.03 followed by decline to 102.33 and 101.63
The alternative scenario - in the event of a break above 103.03, we will be waiting for growth to 105.80
Trade solutions: sales from 103.30 to 101.63
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.
