16 August 2016, USD/JPY
Daily chart: the pair continues to decline towards a well expressed support around 98.97, which the last time provided more than 700 points up.
Н4: a local bearish pressure with the breakdown of the bottom Bollinger envelope.
Н1: Multiple bars outside envelopes anticipate a reversal. We expect an upward rollback to the middle Bollinger band (100.97), from where bears are likly to finalize zone 99.00.
Expectations: now we are waiting for an upward rollback to 100.97 and then start a new decline to 99.00
1. Buy to 100.97
2. Sell from 10.97 to 99.00