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Relevant targets - 1.5364 and 1.5304

Relevant targets - 1.5364 and 1.5304 | 23 October 2015

23 October 2015, USD/JPY

The daily chart: another false upward breakout of the IB area was followed by the anticipated decline. ADX remains inactive, so we can expect continuation of the downward movement to the middle Bollinger band (1.5304)

Н4: breakout of the bottom envelope also confirms expectations of drop. But local correction is still possible, for example, to the zone of the middle Bollinger band (1.5443)

Н1: local-level support and resistance - 1.5364\1.5422.

Expectations: So, we wait for the dropto 1.5304, but everything is going to ensure that this goal will be reached as early as next week. Today, strong support is expected around 1.5364 and resistance - 1.5422.

solutions: So, we sell to 1.5364 and 1.5304. The best solution is to sell from the area of ​​1.5422 (in case of the upward correction ).

Aleksey Panasenko
FreshForex Analyst
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