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Purchases under the bullish Over&Under

07 July 2016, USD/JPY

Daily chart: ADX in the active trend zone, which means that bearish potential remains.

Н4: a strong support around 100.47 (the lower Bollinger band) - the pair is dropping against the declining oscillator and ADX. This means that sellers do not have the trend component in the movement.

Н1: the bullish Over&Under with the entry point on support 100.47

The main scenario - drop to ​​100.47 and then rise to 101.54 and perhaps, 101.93

The alternative scenario - drop under 100.00

Trading solutions: put Buy Limit orders from 100.50 to 101.50

Aleksey Panasenko
FreshForex Analyst
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