Zone of potential demand - 122.50 | 17 November 2015

17 November 2015, USD/JPY

Daily chart: swing up has already been equipped and it is dangerous for bulls, as they have not fulfilled an important breakdown of the last top (123.60). We will expect consolidation of the pair (ie drop without update of the local Low), and then have to wait for the leap to new highs.

H1: 22.49 zone concentrates potential demand within the bullish pattern Over&Under. Correction to this is possible, where we will buy on the main trend upwards, with Stops set below the last bottom (122.21)

Zone of potential demand - 122.50

Expectations:

1)Decline to the area 122.49 and beginning of growth enabling a breakthrough 123.60 (perhaps extraday)

Solutions: 1) We wait with Buy trades around 122.49.

Aleksey Panasenko
FreshForex Analyst
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