Drop from 114.57 expected | 15 February 2017
15 February 2017, USD/JPY
Daily chart: bulls managed to break upper Bollinger envelope and now intend to touch upper band (115.24). Meanwhile ADX is not trending, so we can expect flat movement.
Н4: there is a nice bearish inside bar from upper Bollinger band (114.39). Such a signal may indicate drop towards 112.79 (lower Bollinger band).
Н1: upper Bollinger band points at 114.57 level, here is probable movement destination. ADX is weak, so there is no potental for further upward breakout. Support level is around 113.80 (middle Bollinger band
Expectations: touch of 114.57 followed by decline to 113.80 with general target at 112.79
Solutions: consider selling from 114.57 to 113.80 and 112.79.
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.
