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We wait for one more impulse up and then the pivot

We wait for one more impulse up and then the pivot | 12 August 2015

12 August 2015, USD/JPY

Daily chart: bulls broke the inside bar but they didn’t get the support from ADX. All this makes the pullback to the middle band possible Bollinger bands (124.14) are before new attack.

We wait for one more impulse up and then the pivot

Н4: here we can see a weaken bullish front - indicator divergency. Local support 124.71, after touching this zone one more growth is probable, to new maximums, after this the pair may make a pivot down.

We wait for one more impulse up and then the pivot

Н1: more localized support 124.92. Resistance - 125.22 (the upper Bollinger band )

We wait for one more impulse up and then the pivot

Expectations: the decline to 124.92 and then the growth to 125.22.

Trading solutions:

1) Wait for the breakthrough 125.22 and make a decision to fix the profit at buys.

Aleksey Panasenko
FreshForex Analyst
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