Keep selling | 24 Januari 2017

24 Januari 2017, USD/JPY

Daily chart: a very active trending ADX indicates that the pair is ready to keep declining towards 110.50

Keep selling

Н4: there is quite similar situation. ADX is trending, so local support at 112.47 (lower Bollinger band) is going to be under pressure and is likely to be broken.

Keep selling

Н1: on this chart ADX is active too. Bulls have zero chance. It would be better for sellers to correct the price towards 113.27 (middle Bollinger band) and start a new decline.

Keep selling

Expectations: decline continuation towards 110.50 (possibly following a touch of 113.27)

Solutions: consider selling towards 110.50 (the best entry point may be 113.27)

Aleksey Panasenko
Analis perusahaan "FreshForex"
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