Equally probable scenarios

July 15, 2015

USD/JPY

Daily chart: The upper Bollinger band is just above a critical level (123.72) to keep up with bearish structure of the chart. We are waiting aggression from sellers to confirm a general determination to the bottom Bollinger band (121.44)

Í4: upper band is on 124.27 – also a strong resistance, but movement to this area will change configuration anyway.

Í1: From visual point of view, bulls are exerting pressure. Therefore, we have received equally probable scenarios .

Expectations: 1) If the level 123.72 is still untouched, we are waiting for a new decline. 2) If the point 123.72 is broken, we are waiting for movement to 124.27

Trading decisions:

1) Bears are selling with Stops orders established above 123.72, bulls shall buy expecting a breakthrough of 123.72 to 124.27

Publication source
FreshForex information  FreshForex reviews

January 20, 2017
Advance in inflation across the Eurozone
Euro holds gains against the US Dollar ahead of the ECB rate decision, as majority of economists expect no major updates in the policy, while investors will be taking stock of Draghi rhetoric’s to foresee the timeframe of the next big move by the policymakers...
January 20, 2017
US oil inventory draw gave a temporally support for oil prices
Oil prices remained in red figures after Wednesday's bearish acceleration. Brent a little changed on the day and remained prone to more weakness on Thursday. The benchmark stayed neutral around 54.50 dollars per barrel flirting with the level during the European session...
January 20, 2017
Pound gives up gains
The British pound has pulled back sharply today after making its biggest 1day gain in nearly 20 years’ yesterday, as fears once again crept in about where Brexit will lead to...

XTB Rating
FBS Rating
FIBO Group Rating
Vantage FX Rating
Trade360 Rating
Orbex Rating

EZTrader Rating
TopOption Rating
Binary.com Rating
Anyoption Rating
Binary Brokerz Rating
OptionBit Rating