Looking for downward entry signals | 03 3月 2017

03 3月 2017, USD/JPY

Daily chart: strong resistance level around 114.66 (upper Bollinger band)may face buyers' pressure, it is evident because of ADX growth.

Looking for downward entry signals

Н4: beneath we have entry to bullish Over&Under pattern (111.81), considering overbought chart we may see downward correction towards this level. However, we may consider such movement trajectory only after middle Bollinger band is broken out (113.52, see dark arrow). At the current moment bulls still have potential for touching upper Bollinger band (115.07)

Looking for downward entry signals

Н1: we have flat corridor within Bollinger bands range (114.06-114.56) as a possible alternative to active price shifts today.

Looking for downward entry signals

Expectations:

Core scenario - flat within 114.06-114.56

Alternative scenario - shift beyond flat borders in one or another direction: either shot towards 115.07 or drop to 113.52

Solutions: consider looking for downward signals in 115.07 region. One may set mid-term buy limit order in 111.81 region.

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Aleksey Panasenko
FreshForex公司的分析员
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