Bears, on mark! | 08 December 2016

08 December 2016, USD/JPY

Daily chart: yesterday bears managed neither to significantly increase price nor even to break inside bar, that resulted in rounding of Bollinger envelopes and reversal potential towards middle Bollinger band (111.29)

Bears, on mark!

Н4: Bollinger bands in this frame are in the horizontal range 113.29-114.35, but, in general, the pair is still determined to reverse down, that is indicated by long-lasting oscillator divergence and growing ADX.

Bears, on mark!

Н1: the price is locally consolidated within lower Bollinger envelope (113.51-113.96)

Bears, on mark!

Expectations:

Core scenario - flat 113.51-113.96

Alternative scenario - drop to 112 number.

Solutions: sell inside the range of 113.96 to 113.51 and to 111.29 in mid-terms.

Aleksey Panasenko
FreshForex Analyst
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