An upward impulse is possible | 28 January 2016
28 January 2016, USD/JPY
Daily chart: the pair is aimed to the upper Bollinger band (120.45), which will be met by strong resistance (considering descending upper line and passive ADX)
Н4: we also note weak ADX, so bulls may have a hindrance on their way represented by 118.96 (the upper Bollinger band).
Н1: we confirm an intraday resistance 118.96. Upon that, we can see a triangular consolidation, which can lead to an upward impulse to 120-th figure.
Expectations: flat 118.60-118.96
Trading solutions: We shall buy on return to 118.60 zone to 120.45 (extraday)
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.
