A descending correction | 12 Juli 2016
12 Juli 2016, USD/JPY
Daily chart: the pair has closely come to the middle Bollinger band (103.33), from which there are only two ways - either down to 100.07 (the lower Bollinger band, blue arrow), or up to 106.83 (the upper band, red arrow)
Н4: multiple bars outside envelopes anticipate a correction to 101.35 (middle Bollinger band)
Н1:a similar situation. Support is at the lower Bollinger band (100.92)
Expectations: drop from current levels to 100.92-101.35
Solutions: sale to 101.00.
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.
