19 May 2015, USD/JPY
Daily chart: The upper line of channel (120.39) is the limit, from where we may expect a new decline towards 118.70
Н4: Here is a local bullish pressure, so the price hitting 120.39 is quite real.
Н1: a local string is being formed 119.81-120.08
Expectations: pullback to 119.81 and hitting of the point 120.39, from where a new decline to 118.70 is starting.
1) Purchases from 119.81 to 120.39
2) Sales from 120.39 to 118.70