Flat as a preparation for decline

August 4, 2015

USD/JPY

The daily chart: the pair is falling inside Bollinger envelopes, which may indicate potential of this medium-term decline around the bottom band (121.62), as ADX is insufficient for impulsive moves

Í4: local support is on 123.75 (the bottom Bollinger Band). It could cause a delay, because ADX also shows no readiness for exploits.

Í1: a similar situation. Bears, of course, have the opportunity to attack through breakout of the lower envelope, which implies a return to the middle Bollinger line (124.00), but the overall situation is flat-like.

Expectations: flat between 123.75 and 124.00.

solutions:

1) We can try sales from 124.00, cause in the middle run the pair is ready to fall down to 121-1 figure.

Publication source
FreshForex information  FreshForex reviews

September 30, 2016
Euro continues to trade sideways inside a 100pips range
Looking at the hourly chart, the pair still fighting to overtake 1.1235 barrier, which is considered as the near-term resistance for the single currency...
September 29, 2016
Will Brexit be more painful for Europe rather than for the UK?
The risk is increasing on the market ahead OPEC meeting in Algiers and Yellen testimonial, which will happen before the House panel. FED-fueled rally on gold starts to fizzle out as the December futures keep on a losing streak for a second day, finally dipping by 0.12% to 1,328.75...
September 28, 2016
US presidential debate moves unwind
The market’s initial response to the US presidential election debate overnight was a clear sigh of relief. The Mexican Peso, which had hit a record low against the dollar just the day before, surged higher, as too did the Canadian dollar...

Vantage FX Rating
OANDA Rating
XM Rating
FIBO Group Rating
FOREX.com Rating
FxPro Rating

OptionRally Rating
TropicalTrade Rating
Anyoption Rating
EZTrader Rating
OptionBit Rating
OptionsXO Rating