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An upward bounce from the zone 100.14-100.19

An upward bounce from the zone 100.14-100.19 | 28 September 2016

28 September 2016, USD/JPY

Daily chart: psychological support around ​​100.00 (the lower Bollinger band) is stable. If bears do not start a new attack, it can drop the price eventually to the middle Bollinger band (101.99).

Н4: a little better shaped support around 100.14 forms a cluster 100.00-100.14 that, once again, is into the hands of buyers. ADX is correcting downward, so a breakthrough is not expected.

Н1: a local flat 100.19-100.68 is in its downward phase. We expect the price to fall to 100.19 and thena bounce up.

Expectations: a direct fall to 100.14-100.19 followed by an upward bounce towards 100.68

Solutions: considering purchase from 100.14-100.19 to 100.68

Aleksey Panasenko
FreshForex Analyst
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