Sales Area – 107.13 | 24 June 2016
24 June 2016, USD/JPY
Daily chart: the price has almost reached the middle Bollinger band (107.13), from where a new descending wave to the lower Bollinger band (102.85) may start.
Н4: a growing (but not yet trend) ADX. Plus we have four bars out of Bollinger envelopes - a sign of correction. Support is at the middle Bollinger band(104.73).
Н1: a high degree of overboughtness of the oscillator and ADX. It can also anticipate a downward rebound from 107.13. Support is at 105.29.
Expectations: now, we are waiting for finalization of 107.13 and then fall to 105.29
Solutions: sale from 107.13 to 105.29
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.
