06 April 2016, USD/JPY
Daily chart: So, yesterday the bottom Bollinger envelope was confidently broken, which is a very strong short-signal (for example, a big drop of oil from the mark of 94 had started with such a signal on the monthly chart). But usually such a scenario implies a rollback to the middle Bollinger band (112.42). Therefore, we will need patience to find the best possible entry points to the bottom.
Н4: So far, local resistance, which could act as the demand for US dollar, is represented by the middle Bollinger band (111.27). Support is based at the bottom band (109.80)
Н1: locally the pair is based in the horizontal corridor 110.14-110.63
Expectations: The main scenario - flat 110.14-110.63
The alternative scenario - correction to 111.27
Trading solutions: so, no purchases! We are waiting for chances to enter down around 110.63 and 111.27
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