A notable Northern signal received

May 21, 2015

USD/JPY

Daily chart: Yesterday the upper Bollinger envelope has been broken. Therefore, a notable Northern impulse has been sent. Upon that, a preliminary correction can be made towards the middle line (119.74)

Í4: A better shaped support line is based on 120.39 (the middle Bollinger band)

Í1: As we see, bulls have a chance to start moving upwards, because the bottom Bollinger band (120.84) reached and ADX turned to an active area.

Expectations: So, we are waiting for growth from area 120.39-120.84 to new Highs in the direction of 122.00

Trading decisions:

1) Purchases from 120.39-120.84 to 122.00 (the target may be reached tomorrow)

Publication source
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