The pair's maximum is 118.30 | 21 December 2016
21 December 2016, USD/JPY
Daily chart: ADX gave up helping buyers and reversed down. So we expect the pair to reverse down no later than it touches 118.77.
Н4: Resistance level 118.50-118.77 is confirmed. Support level is 116.92 (lower band). The pair is rising, while ADX is going down. That means that there is no bullish trend potential.
Н1: here we see quite the same situation with more localized resistance level in 118.30 (upper Bollinger band)
Expectations: touch of 118.30 and later decline towards 117.29, 116.92 and towards 114.70 in mid-terms.
Solutions: sell in the range from 118.30 to 116.92 and 114.70 (in mid-terms).
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.
