A continued drop | 02 Agustus 2016
02 Agustus 2016, USD/JPY
Daily chart: yesterday bulls tried to run a counter-attack (by forming the stopping inside bar), but it is not able to persuade anybody, because the price is in the middle of the bottom envelope, finalization of the bottom band (100.13) is more likely than a reversal.
Н4: a better shaped support 100.99 (the bottom Bollinger band plus a round level)
Н1: In this local frame, the pair consolidated within the range 102.12 - 102.58
The main scenario - fall to 101.00
The alternative scenario - flat 102.12-102.58
Trading solutions: sales to 101.00 and 100.13 (extraday)
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.
