Anticipating correction in the area of 123.13 | 04 December 2015
04 December 2015, USD/JPY
Daily chart: the pair continues to be squeezed within the trading range of Bollinger envelopes (122.04-123.64)
Н4: the bottom envelope is formally broken, but the pair has substantial support at 122.60. This may lead to a rollback to the zone 123.13 (middle Bollinger band)
Н1: the same situation. Many bars outside the envelope suggests possible weakening of bears and beginning of correction to 123.13.
Expectations: roll back to 123.13 Trading solutions: buy to 123.13 and waiting for signals down in the zone.
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.
