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A strong medium-term signal

07 November 2016, USD/JPY

Daily chart: a very important and strong medium-term bullish signal - inside bar from the lower Bollinger band! This may mean finalization of the upper Bollinger band (105.04) this week.

A strong medium-term signal

Н4: two inside bars in a row - it is, on the one hand, mean consolidation and flat; on the other hand, it may by a day confirmation signal. That's why we are waiting for move upwards towards the upper Bollinger band (104.6), and, at the same time, take into account the possibility of pricks of the lower band area (102.28)

A strong medium-term signal

Н1:at this local frame, the pair has entered the horizontal flat corridor 102.85-103.29. ADX is weak, so markets can trade this range for little to provide volumes by buyers.

The main scenario - flat 102.85-103.29

The alternative scenario - impulse growth can start at any point in the direction of 103.86, 104.64 Therefore, even if the main scenario is true, we can use drop to 102.85 to open the medium-term purchases

Trading solutions: buying around 102.85 and keep positions until 104.64 is finalized.

Aleksey Panasenko
Analyst of «FreshForex» company
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