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The medium-term potential has 400 points!

31 May 2016, USD/JPY

Daily chart: a very strong ADX indicates readiness of the upward breakthrough. An impulse movement can begin in the near future. The goals are still not clear, but we may get the 400 points' as the medium-term potential.

Н4: ocal resistance is at 111.59 (the upper Bollinger band), here we see that the potential for growth is insufficient.

Н1: a preparatory inside bullish bar. So far, ADX is not in the active area, but it is growing. Therefore, a northern scenario will likely to be the breakthrough of the upper envelope and followed by correction to 111.10 (middle Bollinger band).

Expectations: rise to 111.59, then a return to 111.10 followed by main growth phase with a medium-term goal 115.00.

Trading solutions: And now, we are waiting around 111.10 zone with the Buy trades prepared. Todaythe price can reach 112.00, but on the whole we can "hold" a trade.

Aleksey Panasenko
Analyst of «FreshForex» company
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