Drop to 113.09 | 13 December 2016

13 December 2016, USD/JPY

Daily chart: it looks like long-awaited downward correction has started. Its goal might be a support level 112.55 (middle Bollinger band). Oscillator confirmed long bearish divergence, so sells are more appropriate.

Drop to 113.09

Н4: two local support levels are 114.60 and 113.09 (middle and lower Bollinger band respectively). Downward movement is so far just correctional.

Drop to 113.09

Н1: here we can see forcing downward potential. The pair might at any moment drop sharply to 113.09.

Drop to 113.09

Expectations: wait for decline to 113.09

Solutions: sell up to 113.09

Aleksey Panasenko
FreshForex Analyst
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