10 March 2017, USD/JPY
Daily chart: bulls have finally managed to break bearish frontline and now with support of active ADX have all the chances to reach 118.24 area. The only thing that can stop them is negative NFP release because from the technical point of view we already have uptrend shaped.
Н4: here we have also active ADX at its extremes. That allows us to expect recharge and correction. However, we would not recommend selling in these regions. It's safer to look for upward entries by declines.
Н1: local resistance level at 115.50 will be under pressure because of active ADX. Support levels in 115.00 and 114.41 regions allow us to look for upward entering areas in case of sharp declines caused by the data release.
Expectations: rise towards 118.24.
Solutions: consider buying to 118.24 (the best entry point is by drop in 115.00 and 114.41 regions)
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