Premarket view on the Yen | 19 October 2015

19 October 2015, USD/JPY

The daily chart: after a massive breakdown of the bottom envelope, a technical correction to the middle Bollinger band (119.94) is taking place, from which we can consider sales under a new strong drop to the area 118.57, and then - and new Lows (in the medium run).

Н4: confirm resistance at 119.94, where the day moving average and H4 upper Bollinger band are merging

Н1: from the middle Bollinger band (119.22)we waiting for the upward wave to 119.94

Expectations: So, we wait for growth to 119.94, from where we should sell to 118.57 and in the medium run - much lower (down to 116th figure).

solutions: 1) We are waiting with Sell limit orders from 119.94. 2) Intraday traders may try to avail from the upward movement from 119.33 to 119.94

Aleksey Panasenko
FreshForex Analyst
Agree with the review?
Traders' opinion:
Close
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .