Sales are possible around 122.26-122.60 | 08 July 2015
08 July 2015, USD/JPY
Daily chart : there is an attempt to break the bottom Bollinger envelope, but ADX parameter is not sufficient. So, even in case of a successful attack made by bears, the price is likely to return to the middle Bollinger band (123.12) and only after that we can expect a full descending wave.
.png "Sales are possible around 122.26-122.60")
Н4: it also shows a breakthrough of the bottom Bollinger envelope. Resistance from the middle Bollinger band 122.60
.png "Sales are possible around 122.26-122.60")
Н1: also have a broken envelope. Resistance is better shaped - 122.26.
.png "Sales are possible around 122.26-122.60")
Expectations: pullback to 122.26-122.60 and sell expecting a middle-term decline.
Trading decision:
1) Sales are possible around 122.26-122.60
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.
