06 May 2016, USD/JPY
Daily chart: a continued technical correction in the direction of the middle Bollinger band (108.71). We assume that from this area a new decline towards 105.91 (the bottom band) will start.
Н4: a horizontal corridor within Bollinger envelopes (105.82-107.70). NFP release increases an extent of uncertainty regarding direction of further movement.
Н1: a better shaped flat 106.98-107.46. But we will not count on its reliability, too.
Expectations: So, let's not make any guesses on what will happen upon NPF release. But a technically correct scenario suggests a surge to 108.71 and then fall down to 105.51 < / p>
Trading solutions: we shall abstain from trading today or are look for sales around 108.71