Decline towards 109.05 | 15 April 2016
15 April 2016, USD/JPY
Daily chart: bulls are trying to finalize the highest point of correction - the middle Bollinger band (111.02), but it is evident that the overall potential does not favor them. Therefore, at any time the price can begin a new phase of the medium-term drop to the bottom band (107.37)
Н4: a locally upward trend. The resistance is at 109.99, support is at 109.05 and 107.94
Н1: we also notice weakening of the rising front and a well-expressed bearish momentum. Locally strong support is at 109.05 (bottom Bollinger band)
Expectations: drop to 109.05
Trading solutions: sell to 109.05
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.
