Preparing for the impulse
08 December 2015, USD/JPY
Daily Chart: ADX is gaining momentum, but it is still far from the trendline area. Perhaps, the pair will continue to consolidate prior to the impulse distribution, which is goint to be soon.
Н4: heavy IB from the middle band and the upper Bollinger band rushed to 123.75. This northern karma.
Н1: here the pair is squeezed inside the envelopes (123.20-123.45), once the price exits this corridor, we'll see the impulse. Because the day and H1-ADX are inactive, is not necessarily going to happen today.
Expectations: The main scenario - flat 123.20 - 123.45 The alternative scenario - growth to 123.75 and 124.00.
Trading solutions: to buy to 123.75 and 124.00
Aleksey PanasenkoAnalyst of «FreshForex» company
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