17 March 2016, USD/JPY
Daily chart: It is very intensive pair decrease, ADX is rising but it hasn’t reached zone of trend activity. Look on the pear behavior in support area 111.00 (yellow zone)
Н4: the same situation. Pair has gone out the Bollinger envelopes (with their expansion). We can wait for further decrease. But ADX is very weak..
Н1: third frame has buyers advanced. We areexpacting decrease to 111.00 area and then upwards correction bounce.
Expectation: decrease to 111.00 and then further upwards bounce.
1) Sell to 111.00.
2) In 111.00 zone we are waiting for buy signals on Н1.