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Sell to 111.00 and looking for bounce

Sell to 111.00 and looking for bounce | 17 March 2016

17 March 2016, USD/JPY

Daily chart: It is very intensive pair decrease, ADX is rising but it hasn’t reached zone of trend activity. Look on the pear behavior in support area 111.00 (yellow zone)

Sell to 111.00 and looking for bounce

Н4: the same situation. Pair has gone out the Bollinger envelopes (with their expansion). We can wait for further decrease. But ADX is very weak..

Sell to 111.00 and looking for bounce

Н1: third frame has buyers advanced. We areexpacting decrease to 111.00 area and then upwards correction bounce.

Sell to 111.00 and looking for bounce

Expectation: decrease to 111.00 and then further upwards bounce.

Trading decisions:

1) Sell to 111.00.

2) In 111.00 zone we are waiting for buy signals on Н1.

Aleksey Panasenko
FreshForex Analyst
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