Main >
Analytics
>
Fresh forecast
>
Forex Technical Analysis: Trend potential
>
The price is to face resistance and start a downward correction

The price is to face resistance and start a downward correction | 30 August 2016

30 August 2016, USD/JPY

Daily chart: visual accumulation of the northern potential, but so far ADX has not reached the figure, which will mark breakdown of resistance 102.83 (the upper Bollinger band). So, we are recording 105.50, but keep in mind 102.83 - not the fact that buyers will be able to do so immediately

Н4: we confirm a strong resistance at 102.83 (the upper Bollinger band) - the pair is overbought, and ADX is going through correction (ie, bulls will try to run a breakthrough without trend potential

Н1: a horizontal range 101.80 - 102.35 (Bollinger envelopes). ADX is weak, but it is attacking, so finalization of 102.83 is likely

The main scenario - growth to 102.83 and then the downward correction

The alternative scenario - flat 101.80 - 102.35

Solutions: sales from 102.83.

Aleksey Panasenko
FreshForex Analyst
Agree with the review?
Traders' opinion:
Close
Login

Tunjukkan kata laluan

Hide password

 Terlupa kata laluan anda?
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .

Our best awards:

FreshForex is a brand that provides access to online trading for clients from more than 158 countries all over the world. The Company's partners are the licensed European liquidity providers, banks, payment aggregators and systems with which the company has been cooperating for more than 19 years.
Clients must be at least 18 years old to use the services of the Company.
The company does not provide services in the following countries.
Risk Warning: Trading financial instruments with leverage carries high risks and can result in both profits and losses. Potential losses are limited by the deposit amount. Before deciding to trade, the client should assess their risk tolerance, experience, and knowledge level.

Freshforex.com uses cookies for better website operation, traffic flow analysis, and personalization. By using this website you agree to our Cookie Policy.
User Data privacy is protected in accordance with GDPR. The SSL certificate installed on the website transfers the information over a secure protocol.
The site contains links to websites of third parties. The Company does not check or control the third-party resources that are in any way related to the FreshForex site, so the Company is not responsible for any third-party information or materials posted.
By creating a link to a third party website, the Company does not endorse or recommend any products or services offered by the third party.
The website content is intended for informational purposes only. It should not be regarded as an offer or solicitation to any person in any jurisdiction in which such an offer or solicitation is not authorized. It also should not be considered as an offer/solicitation to any person to whom it would be unlawful to make such an offer or solicitation, nor regarded as a recommendation to buy, sell or otherwise deal with any particular currency or any other trading asset investment. If you are not sure about your local trading regulations, please, leave this website immediately.
© 2004—2024 FreshForex – Forex broker
Reproduction of the contents is allowed only with active hyperlink to original source.