14 October 2016, USD/JPY
Daily chart: despite a very active status of ADX, a downward correction in the direction of the middle Bollinger band (102.15) has started. However, bulls can attempt to break the top envelope.
Н4: the price has maintained a rising structure, but a well expressed bearish divergence of the oscillator shows the impossibility to continue the upward movement, confirming scenario with downward correction within the daily chart. We expect another touch of the upper Bollinger band (104.40)
Н1:a bearish pattern Over&Under from around 104.36 (the upper Bollinger band). To move to this area, the price needs a break above the middle band (103.80)
The main scenario - growth to 104.36 and then fall to 103.27
The alternative scenario - touch of 103.80 and then fall to 103.27
1. Buy to 104.30
2. Sell from 104.36 to 103.27