21 May 2015, USD/JPY
May 21 of 2015, USD/JPY
Daily chart: Yesterday the upper Bollinger envelope has been broken. Therefore, a notable Northern impulse has been sent. Upon that, a preliminary correction can be made towards the middle line (119.74)
Н4: A better shaped support line is based on 120.39 (the middle Bollinger band)
Н1: As we see, bulls have a chance to start moving upwards, because the bottom Bollinger band (120.84) reached and ADX turned to an active area.
Expectations: So, we are waiting for growth from area 120.39-120.84 to new Highs in the direction of 122.00
1) Purchases from 120.39-120.84 to 122.00 (the target may be reached tomorrow)