Waiting for attack of 123.76 and start of decline to 122.26

June 9, 2015

USD/JPY

Daily chart: Correction to the middle Bollinger band (122.26) is probable, however, the upper line still grows to 126.39, so we cannot confirm reversal yet.

Í4: a well expressed divergence of the oscillator and pressure of ADX - everything speaks for decline. Break of support 123.75 (the bottom Bollinger band) will lead to decline down to 122.26

Í1: a dip upwards is probable. Potential levels of the offer are the middle (124.71) either upper (125.45) Bollinger band.

Expectations: so, we are waiting for attack of support line 123.76 and start of a new decline to 122.26. Today we can witness offsets to 124.71 èëè (if this level is broken) - to 125.45

Trading decisions::

1) Sell from 124.75 and 125.45. Taking into account a big distance between these areas, we will need an additional signal for sales. Targets are 123.76 and 122.26.
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