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An almost 200-points' potential to drop

An almost 200-points' potential to drop | 03 February 2016

03 February 2016, USD/JPY

Daily chart: a successful job of a downward correction and the Inside Bar has been broken down. Therefore, we expect finalization of the area 118.42 (middle Bollinger Band).

An almost 200-points' potential to drop

Н4: we confirm the strong support area at 118.42 118.42.

An almost 200-points' potential to drop

Н1: a downward acceleration does not exclude a rollback to the middle Bollinger band (120.43), but does not cancel a deeper decline to 118.42 as well

An almost 200-points' potential to drop

Expectations: The main scenario - drop in the direction of 118.42. The alternative scenario - a preliminary pullback to 120.43 and then decline based on the core scenario.

Trading solutions: sale from 120.43 to 118.42

Aleksey Panasenko
FreshForex Analyst
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