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Beginning of the mid-term decline

Beginning of the mid-term decline | 10 December 2015

10 December 2015, USD/JPY

Daily chart: an impressive breakthrough of the bottom envelope. We are waiting for a rollback to the middle band (122.83) and sell for the medium-term target - 118.68

Beginning of the mid-term decline

Н4: a similar situation

Beginning of the mid-term decline

Н1: localized resistance at 122.15

Beginning of the mid-term decline

Expectations: The main scenario - a roll back to 122.15 and then decline to 120.80. The alternative scenario - a roll back higher to 122.83 and then beginning of the mid-term decline.

Trading solutions: Sales from either 122.15 or from 122.83. The spread is significant, so you will need an additional signal to enter

Aleksey Panasenko
FreshForex Analyst
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