Forex Technical Analysis: Trend potential – Entry points into purchases around 102.47

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USDJPY – DownDaily chart: the pair is growing in the direction of the upper Bollinger band (104.37), but this process is against low and not active status of ADX, so multi-directional moves are likely. Н4: active phase of ADX, so the bullish scenario will prevail. However, it completely coincides with expectation of growth on the daily chart. Support – 102.32 (middle Bollinger band), from where we can buy on a rollback Н1: a little better shaped support – 102.47 (middle Bollinger band). Resistance is 103.33 (upper band). In view of weak ADX here, we can assume that the day will be spent within this range. Expectations: now we waiting for a drop in the direction of support 102.32-102.47, and then start of an upward movement towards 103.33 Solutions buy from 102.32-102.47 to 103.33
You may check other analytical reviews on the web-site of FreshForex company. Source: freshforex.com.
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