Support around 100.59-100.74 is possible | 06 Juli 2016
06 Juli 2016, USD/JPY
Daily chart: ADX is in the active trend phase, so we can not exclude that new Lows will be reached. Support is at 100.59 (the lower Bollinger band)
Н4: the price can roll back up to the middle band Bolllindzhera (102.19), but we can not put money on it: bears have an obvious advantage in the background of expressed expansion of envelopes.
Н1: at this local level, we do not see the trend potential, so support may be around 100.59-100.74 .
The main scenario - decline to 100.59-100.74 with an upward bounce in the direction of 101.02-101.37
The alternative scenario - decline to 100.00
Solutions: Sell to 100.59-100.74 and possibly to 100.00.
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.
