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Looking for buying options around 109.50-109.90

Looking for buying options around 109.50-109.90 | 25 May 2016

25 May 2016, USD/JPY

Daily chart: ADX is very close to the active trend area, so the basic expectation is surge to the upper band (111.80)

Н4: also an active phase of ADX, so it is unlikely that bulls will be prevented from holding the resistance zone 110.55 (the upper Bollinger band)

Н1: a technical correction to the middle and possibly the lower Bollinger bands (109.90 and 109.50, respectively). From one of these bands buyers are expected to run an attack again.

Expectations: now, we are waiting for finalization of correction at 109.90 and possibly 109.50, then the price will move to 111.50

Trading solutions: buy around 109.50 and 109.90. The goal is 111.50

Aleksey Panasenko
FreshForex Analyst
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