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Support lines on a ways of decline: 99.81 and 99.45

Support lines on a ways of decline: 99.81 and 99.45 | 23 August 2016

23 August 2016, USD/JPY

Daily chart: the pair continues to keep moving to the bottom Bollinger band (98.45)

Support lines on a ways of decline: 99.81 and 99.45

Н4: at this local frame, the price is concentrated within Bollinger envelopes (corridor 99.81 - 100.72)

Support lines on a ways of decline: 99.81 and 99.45

Н1: an ambiguous situation. Support 99.81 looks quite robust and tight, but active ADX favors bears, which could allow them to rely on a deeper breakthrough.

Support lines on a ways of decline: 99.81 and 99.45

The main scenario - decline to 99.81 and then rebound towards 100.26

The alternative scenario - fall to 99.45

Trading solutions: the range is not much suitable to open trade, although aggressive sellers can take a chance to open trades up to 99.45

Aleksey Panasenko
FreshForex Analyst
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