Premarket view on the Yen | 02 November 2015

02 November 2015, USD/JPY

The daily chart: a continued flat in the framework of the Bollinger envelope (118.83-121.50). The pair closed the week by flat sharply around at the middle band (120.12), so moves to the top or bottom wall of the channel are equally probable.

Н4: here support is 120.12 looks reliable - horizontal envelopes, ADX is weak. The range is 120.12-121.20

Н1:more localized levels of support and resistance - 120.30-120.74 (the bottom Bollinger envelope)

Expectations: decline to the zone 120.12-120.30 and then rebound towards 120.74 and possibly to 121.20

solutions: buy from the zone 120.12-120.30 and 120.74 to 121.20

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.

Anjara

Facebook

Twitter

Aleksey Panasenko

FreshForex Analyst

FreshForex is a brand with a 20-year history, providing access to online trading for clients from 158 countries worldwide.
The company’s services are intended for adult users. If the use of these services violates local laws, you must immediately leave the website. The company does not provide services in the following countries.
Risk Warning: Trading financial instruments with leverage involves significant risks and may result in both profits and losses. Potential losses are limited to the amount of funds deposited. Before deciding to trade, clients should assess their risk tolerance, experience level, and knowledge.
We use cookies to improve your experience on our website.