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18 July 2016, USD/JPY

Daily chart: the upper Bollinger band has been almost finalized and so far, the price action looks like a downward rebound. Given that ADX is very close to the trendline area, we can assume a new wave down. Still a bullish scenario is also probable.

Н4: So far, a rising structure of the chart. Trading inside 103.75-106.18. Given divergence of the oscillator, I am inclined to a downward reversal scenario.

H1: ADX is active after a breakdow of the bottom envelope. We should sell on touch of the middle Bollinger band (105.65)

Expectations: a decline towards 103.75 (extraday). The best possible zone for entry int sales - 105.65

Solutions: are looking for sales to 103.75.

Aleksey Panasenko
FreshForex Analyst
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