Levels of support/resistance - 116.15/117.91 | 11 January 2016
11 January 2016, USD/JPY
Daily chart: the pair is aimed towards support zone 116.15, where we apparently can look for signals of a significant correction - the last time this level has given 700 points of growth.
Н4: convergence of oscillator - expressed attenuation of signal and possible correction. Resistance is from the middle Bollinger band (118.23)
Н1: more localized resistance 117.91
Expectations:
The main scenario - correction to 117.91 and then a new wave down to 116.15
The alternative scenario - test of 116.15 zone and only after that we expect a significant upward correction.
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.
