Yen. Further reduction is possibly | 02 November 2016
02 November 2016, USD/JPY
Daily chart: he pair has fallen down to the middle Bollinger band (103.86), and now the road for bears is open (102.46).
H4: intense and marked a breakthrough of the lower Bollinger envelope - it is traditionally a strong bearish signal.
H1: locally ADX is very aggressive, so count on a strong upward correction is not necessary. Support - 103.86, resistance - 104.63.
Expectations:The main scenario - fall to 102.46. Alternative Scenario - upward correction towards 104.63.
Trading solutions: So, looking for short positions towards 102.46.
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.
