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An opportunity to trade in both directions

An opportunity to trade in both directions | 25 April 2016

25 April 2016, USD/JPY

Daily chart: a confirmed scenario of intensive growth to the upper Bollinger band (114.01), so it is the main expectation

H4: multiple bars outside of the envelope is an obvious sign correction, so we may expect a rollback to the middle Bollinger band (109.75) from resistance 112.45

Н1: we also highlight resistance 112.45 (the upper Bollinger band). Support is better expressed 110.68 (middle Bollinger band).

Expectations: rise to 112.45, thenpullback to 110.68, whereupon a new test of the upper part 114.01 can begin. Such a scenario of course does not fit the intraday scenario 1. Sales from 112.45 to 110.68 2. Buy from 112.58 to 114.01

Aleksey Panasenko
FreshForex Analyst
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