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We expect new down move from 115.14

We expect new down move from 115.14 | 19 January 2017

19 January 2017, USD/JPY

Daily chart: we are observing a quite successful bullish session but we are not misled by all this: previously we got the strongest signal of decline, new decline stage is likely to start after possible touch of middle Bollinger band (116.19)

We expect new down move from 115.14

Н4: much more localized resistance level is at 115.14 (upper Bollinger band). The chart shows an ideal decline, ADX is corrective, so I would say that we won't see the pair to go higher than 115.14.

We expect new down move from 115.14

Н1: local trend distribution goes towards 115.14. In this region we can also see additional dollar supply within local bearish Over&Under pattern

We expect new down move from 115.14

Expectations: traders might expect a rise to 115.14 region and then start of intensive decline towards 113.38 and 112.58

Solutions:

1. Consider buying towards 115.14

2. Consider selling from 115.14 to 113.38 and 112.58

Aleksey Panasenko
FreshForex Analyst
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