Flat range | 16 September 2016
16 September 2016, USD/JPY
Daily chart: The pair continues to consolidate at the middle Bollinger band (102.28). Indifferent ADX and stable Bollinger envelopes suggest that this trend will continue today.
Н4: a horizontal corridor inside Bollinger envelopes (101.54 - 103.01). Bands are stable. Borders of the flat represent psychological levels.
Н1:the intermediate support 102.01 (bottom Bollinger band plus the round level). ADX is weak, though rising. This enables different scenarios for the future (from the upward rebound to a break down)
The main scenario - flat 102.01-102.60
The alternative scenario - fall to 101.54
Trading solutions: wait for touch of one of the borders of the flat 101.54 and 102.60 to find entry points in a trade
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.
