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111.73 region breakout expectations

111.73 region breakout expectations | 20 February 2017

20 February 2017, USD/JPY

Daily chart: there is decline within the proper downward trend structure, so we may expect movement continuation aiming at support level 111.73 breakout (lower Bollinger band) and lows renewing.

111.73 region breakout expectations

Н4: as we see support level at 111.73 is quite strong, so there the price may stop, while bears will take profit. On the other hand, ADX is extremely aggressive, so the price is also likely to sink further.

111.73 region breakout expectations

Н1: localized support level is in 112.65 region (lower Bollinger band). ADX is corrective, so breakout of 111.73 may occur tomorrow.

111.73 region breakout expectations

Expectations: decline to 111.73 region (with a possible delay at 112.26)

Solutions: consider selling to 111.73

Aleksey Panasenko
FreshForex Analyst
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