113.08-113.85 range | 22 February 2017
22 February 2017, USD/JPY
Daily chart: the pair entered flat corridor of 111.73-114.84 (Bollinger bands range). ADX is weak yet, so the pair may rotate around middle Bollinger band (113.08)
Н4: Bollinger envelopes are stable within more localized flat corridor of 112.71-113.83. We also have weak and corrective ADX, so we can consider that specified borders are stable.
Н1: even more localized corridor of 113.35-113.76 with some bearish movement potential towards 113.08, where we may see entry to bullish Over&Under pattern.
Expectations:
Core scenario - flat at 113.35-113.76
Alternative scenario - drop to 113.08 followed by rebound.
Solutions: trading inside the corridor of 113.08-113.75
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.
