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Sell on a rollback to 100.97

Sell on a rollback to 100.97 | 16 August 2016

16 August 2016, USD/JPY

Daily chart: the pair continues to decline towards a well expressed support around ​​98.97, which the last time provided more than 700 points up.

Н4: a local bearish pressure with the breakdown of the bottom Bollinger envelope.

Н1: Multiple bars outside envelopes anticipate a reversal. We expect an upward rollback to the middle Bollinger band (100.97), from where bears are likly to finalize zone 99.00.

Expectations: now we are waiting for an upward rollback to 100.97 and then start a new decline to 99.00

Solutions:

1. Buy to 100.97

2. Sell from 10.97 to 99.00

Aleksey Panasenko
FreshForex Analyst
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