An almost 200-points' potential to drop | 03 February 2016
03 February 2016, USD/JPY
Daily chart: a successful job of a downward correction and the Inside Bar has been broken down. Therefore, we expect finalization of the area 118.42 (middle Bollinger Band).
Н4: we confirm the strong support area at 118.42 118.42.
Н1: a downward acceleration does not exclude a rollback to the middle Bollinger band (120.43), but does not cancel a deeper decline to 118.42 as well
Expectations: The main scenario - drop in the direction of 118.42. The alternative scenario - a preliminary pullback to 120.43 and then decline based on the core scenario.
Trading solutions: sale from 120.43 to 118.42
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.
