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Consider only sales now

Consider only sales now | 10 October 2016

10 October 2016, USD/JPY

Daily chart: an active phase of decline against enhanced activity on ADX, that almost certainly will allow sellers to finalize the middle Bollinger band (101.87)

Н4: a better shaped support zone around the lower Bollinger band (102.33). ADX is correcting, so it is unlikely that we will see a deeper break down.

Н1: active trend potential ADX in favor of bears, so we wait for development of the descending wave towards 102.33 and then, perhaps, to 101.87.

Expectations: continued drop in the direction of support for 102.33 and possibly to 101.87

Solutions: only sales with profit taking around 102.33 and 101.87.

Aleksey Panasenko
FreshForex Analyst
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