Southern dynamics | 17 June 2016
17 June 2016, USD/JPY
Daily chart: a very active ADX is likely to ingore some oversoldness, which will cause a deeper drop to 102.50
Н4: a similar picture: technical analysis predicts correction, but talking about it is too early, because the ADX is pressing and there are no signs of weakening. A potential "ceiling" of correction is the middle Bollinger band (105.64)
Н1: consolidation within the bottom envelope (103.30-104.44)
The main scenario: decline to 103.30 and then an upward bounce The alternative scenario: a deeper decline towards 102.50
Trading solutions: sale to 103.30 and 102.50
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.
