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USD/JPY strong support zone, where to now ?

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USD/JPY 09.08.2017

Our expectations: The price reached strong zone of support around 109.70-110.20. The middle-term movement is upward , higher bottoms, but break of the main support will trigger downward movement and strong sell off.

Alternative scenario: IF the price fail to break the support, we may see test of the upper resistance around price 114.50.

Comments: The price broke Ichimoku cloud. CCI(50) - below 0 - negative zone, controlled by sellers. If break level -100 - the negative sentiment will accelerate. The price is below SMA 200/50.

SL: 110.70

Trader Bozhidar Arabadzhiev


 Varchev Traders

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