Drop to 111.57 expected! | 13 February 2017
13 February 2017, USD/JPY
Daily chart: previous week closed very favorably for bears with pinbar from middle Bollinger band. Considering distinct descending pattern one can sell from current levels with stops at Friday highs. Mid-term target is lower Bollinger band (111.57) and lower levels.
Н4: technical downward correction towards 112.64 and 111.57 (middle and lower Bollinger band).
Н1: here we are also observing trading set-up that agree with day chart: very active trending ADX along with lower Bollinger envelope breakout. One can sell towards 111.57 without hesitation!
Expectations: drop to 111.57 from current levels.
Solutions: consider selling to 111.57 from current levels.
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.
