Correction is close | 18 December 2015
18 December 2015, USD/JPY
Daily chart: active work in the direction of the bottom Bollinger band (121.02), from which a rebound to the middle band (122.54) is possible, as meanwhile envelope are horizontal.
Н4: a more localized support at 120.69 (the bottom Bollinger Band).
Н1: four bars out of the Bollinger envelope - a threat for rising correction already on 121.37, where there is a pivot point.
Expectations: The main scenario - Touch of zone 121.37 and then an upward roll back to 122.54
The alternative scenario - deeper decline to 120.69, and then start of an upward roll back.
Trading solutions: On long signal to 120.69 or 121.37 - buy to 122.54
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.
