20 October 2016, USD/JPY
Daily chart: the pair is in a phase of technical downward correction to the middle Bollinger band (102.51), from where bulls are expected to run a new attack in the direction to the upper Bollinger band (105.33)
Н4: at this local frame, trending bearish pressure is still maintained proving the scenario with finalizaion of 102.51 on the daily chart.
Н1: two local resistance lines: 103.44 and 103.80 (the middle and the upper Bollinger band, respectively). Given the scenario of a possible drop in the direction of 102.51, we can expect beginning of the downward phase from any of these areas.
Expectations: So, from one of the two zones (103.44 and 103.80) we expect a drop in the direction of 102.51
Solutions: look for downward enty points to 103.44 and 103.80
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