23 November 2016, USD/JPY
Daily chart: the upper Bollinger band has moved to the north to 112.21, where bulls have their interests now. This is a very broad space for a possible downward rollback (down to the middle Bollinger band 106.58). This complicates trading on the upward trend, because Stop Loss levels are not clear.
Н4: correction of ADX indicator on the background of accumulation in the horizontal corridor 110.26-111.29 (Bollinger bands). Divergence of the oscillator indicates general weakening of bullish front.
Н1: active trend ADX against horizontal Bollinger envelopes is a headache. The pair may both "shoot" down to 110.26 and try to break the top envelope (111.29)
The main scenario - growth to 111.29 and further breakthrough to 112.21
The alternative scenario - fall to 110.26
Trading solutions: today trading is unsafe and requires aggressive approaches. If you are using conservative methods of trade, take a rest. Aggressors are welcome to get to one of the scenarios.
Aleksey PanasenkoAnalyst of «FreshForex» company
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