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Christmas holidays influence the market

Christmas holidays influence the market | 27 December 2016

27 December 2016, USD/JPY

Daily chart: it is difficult to say what should go wrong to prevent implementing such a strong reversal potential. Of course, touch of upper Bollinger band (119.24) is still possible, but buying in such conditions is reckless. Almost as reckless as not trying to sell. Selling targets start from 115.39 and go as far as 111.37 (middle and lower Bollinger band respectively)

Christmas holidays influence the market

Н4: ADX is active, although it is corrective. This also allows sellers to use any increase in quotes to enter the market.

Christmas holidays influence the market

Н1: there are narrowing Bollinger bands along with weak ADX. It can prolong accumulation inside envelopes range (117.00-117.18)

Christmas holidays influence the market

Expectations:

Core scenario - flat in 117.00-117.18

Alternative scenario - decline towards 115.39

Solutions: sell counting on decline to 115.39

Aleksey Panasenko
FreshForex Analyst
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