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We are looking for signals and corrections in 111.89 zone

We are looking for signals and corrections in 111.89 zone | 11 February 2016

11 February 2016, USD/JPY

Daily chart: it is active phase of decrease but it is third bar in a row outside the Bollinger Envelope. It leads to possible correction at nearest time.

We are looking for signals and corrections in 111.89 zone

Н4: Bulls oscillator convergence is noticeable and means about local pressure decrease and possibility of pullback to middle Bollinger line (115.01) it would be point for sell.

We are looking for signals and corrections in 111.89 zone

Н1: Support is on 111.89 level, resistance is on 113.77

We are looking for signals and corrections in 111.89 zone

Expectation: decrease to 111.89 and then bounce upwards to 112.54 and maybe to 113.77

Trading decisions:

1) sell to 111.89

2) look for signals and buy into 111.89 zone.

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