Two resistance lines to search entries into sales | 17 August 2016

17 August 2016, USD/JPY

Daily chart: drop to to 99.00 (the bottom Bollinger band). At the same time, we see that ADX has not even reached the active trend zone yet, which can cause a deep drop of the pair

Н4: resistance is at 101.11 (the middle Bollinger band), support is at 100.03 (the bottom Bollinger band plus a round psychological level)

Н1: a better shaped resistance is at 100.41 (the middle Bollinger band), support is at 99.68 (the bottom Bollinger band)

The main scenario - touch of 100.41 and then fall to 99.68 and an eye on 99.00

The alternative scenario - correction to 101.11 and then fall to 99.68

Trading solutions: consider downward entries around 100.41 and 101.11.


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.
Aleksey Panasenko
FreshForex Analyst
Close
Login