The price may finalize 109.44 after touch of 110.57 | 01 June 2016
01 June 2016, USD/JPY
Daily chart: the pair is approaching the support - the middle Bollinger band (109.27), from which, with a high probability, it will move to top line (111.55, see the pink arrow.)
In the case of a breakthrough to the lower envelope, we'll see a decline towards 106.85 (lower Bollinger band).
Н4: here we see that the support zone of 109.44 appears to have 100% safety! Therefore, it makes sense either buy or wait for a signal to buy in this area on younger charts.
Н1: broken lower envelope. A rollback to the middle band (110.57-110.71) can take place, then the price may finalize 109.44 area
Expectations: The main scenario - surge to 110.57-110.71 and then decline to 109.44
The alternative scenario - decline to 109.44 and then rebound to 110.00
Trading solutions: 1. Sales from 110.57 to 109.50
2. Buy from 109.44 to 110.00
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.
