Ambiguous | 23 November 2016

23 November 2016, USD/JPY

Daily chart: the upper Bollinger band has moved to the north to ​​112.21, where bulls have their interests now. This is a very broad space for a possible downward rollback (down to the middle Bollinger band 106.58). This complicates trading on the upward trend, because Stop Loss levels are not clear.

Н4: correction of ADX indicator on the background of accumulation in the horizontal corridor 110.26-111.29 (Bollinger bands). Divergence of the oscillator indicates general weakening of bullish front.

Н1: active trend ADX against horizontal Bollinger envelopes is a headache. The pair may both "shoot" down to 110.26 and try to break the top envelope (111.29)

Ambiguous

The main scenario - growth to 111.29 and further breakthrough to 112.21

The alternative scenario - fall to 110.26

Trading solutions: today trading is unsafe and requires aggressive approaches. If you are using conservative methods of trade, take a rest. Aggressors are welcome to get to one of the scenarios.


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.
Aleksey Panasenko
FreshForex Analyst
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