Corrective potential may be limited
12 November 2015, USD/JPY
The daily chart: space for possible correction is rather large (up to the middle Bollinger band, 120.50), but it is a big question if bears can take this opportunity
Н4: strong local support at the bottom Bollinger band (122.40). Bounce from it towards 123.73 is very likely.
Н1: one of the options - flat, with the support of the bottom Bollinger band (122.76) and resistance at the upper band (123.15).
Expectations: The main scenario - decline to 122.40 and surge to 123.70 The alternative scenario - flat 122.76-123.15
1) Buy from 122.40 to 123.70
Aleksey PanasenkoAnalyst of «FreshForex» company
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