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Expecting Decline Continuation after Touching 109.83

Expecting Decline Continuation after Touching 109.83 | 12 April 2017

12 April 2017, USD/JPY

Daily chart: ADX shows growing trend, and bears are trying to break support level at 109.05 (lower Bollinger band). If they manage to do it, mid-term drop towards 105.00 will be likely

Expecting Decline Continuation after Touching 109.83

Н4: several pinbars beyond Bollinger envelopes borders indicate possible upside correction but ADX is too active to try to open long positions. Rollback is possible but it's better to use it for entering down.

Expecting Decline Continuation after Touching 109.83

Н1: here resistance level is at 109.83 (middle Bollinger band). Support level is at 108.96 (lower Bollinger band).

Expecting Decline Continuation after Touching 109.83

Expectations: we expect the price to touch 109.83 and then drop to 108.96

Trading signals: consider selling from 109.83 to 108.96

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Aleksey Panasenko
FreshForex Analyst
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