Quite strong reversal signals | 19 Desember 2016

19 Desember 2016, USD/JPY

Daily chart: here we have a very strong reversal signal - bearish inside bar along with oscillator divergence. All these allows us to sell in direction of 113.88 (middle Bollinger band)

Quite strong reversal signals

Н4: upper Bollinger band (119.41) looks still untouched. If the price will eventually touch it, that would be a nice downward entry point. Intermediate support level is on middle Bollinger band (116.69)

Quite strong reversal signals

Н1: we already saw lower Bollinger envelope breakout then a touch of middle band and inside bar. So we can expect decline from the current levels (see red arrow). However, remembering Н4 frame we can possibly expect a rise towards 119.41 (see blue arrow)

Quite strong reversal signals

Expectations:

Core scenario - decline from the current levels towards 116.57.

Alternative scenario - sharp touch in 119.41 and as sharp starting decline and full reversal.

Solutions:

1. Sell from the current levels towards 116.57

2. Limited sell orders in 119.41.

Aleksey Panasenko
Analis perusahaan "FreshForex"
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