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Business / Finance

Determination of potential trend - USDJPY. Range day 113.65-114.14

FreshForex news RSS 12.11.2018 at 22:18

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USDJPY - Down

Daily chart: so, we have to admit that yesterday, closed the false breakout bearish inside bar up, which can lead to sharp decrease in quotations in the direction of the middle Bollinger band (112.82)

H4: local support 1133.72 (middle Bollinger band) yet protects the couple from falling to the bottom of the envelope where the goal would be to level 113.17.

H1: as you can see, the area 113.65-113.72 is a really strong support, which could trigger a new ascending wave towards 114.14 (upper Bollinger band). The above is also still difficult to watch, because the envelopes are stable, and the ADX is falling.

Idle: therefore expect a sideways range 113.65-114.14.

Trade solutions:

1. Purchase to 114.14.

2. Sales from the zone 114.14 to 113.65.

And you know where the highest yield on JPY?

Even more trading tools. Read more...

With other analytical reviews you can find on the website "FreshForex".