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Correction on the background of convergence of RSI

Correction on the background of convergence of RSI | 06 January 2016

06 January 2016, USD/JPY

Daily chart: trending bearish pressure from ADX.

Correction on the background of convergence of RSI

Н4: we notice bullish convergence of the oscillator and support in the area of ​​118.25. The price can get corrected upwards in the direction of the middle Bollinger band (118.89, 119.57).

Correction on the background of convergence of RSI

Н1: also well-expressed expressed bullish convergence of the oscillator. We expect rebound from the zone 118.25-118.47

Correction on the background of convergence of RSI

Expectations: touch of the zone 118.25-118.47 and then rebound to 118.89

Aleksey Panasenko
FreshForex Analyst
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