24 March 2017, USD/JPY
Daily chart: bears were sure that they triggered big drop but faced bullish resistance (however, that it was profit taking). ADX shows active trend, that's why it's unclear where the price will go (one of the scenarios is correction up to middle Bollinger band Bollinger band 113.07, see blue arrow).
Н4: here resistance level is at 111.58 (middle Bollinger band). If it will be able to hold buyers down, we will see new drop towards 110.39 (lower Bollinger band).
Н1: so if resistance level at 111.58 stands, bears will retain control. Otherwise, correction is possible towards 113.07.
Expectations:
Core scenario - drop towards 110.25
Alternative scenario - upside breakout of 111.58 followed by rise towards 113.07.
Trading signals:
1. Consider selling from current levels with stop-losses above 111.58 aiming at 110.25 (with mid-term target at 105.00)
2. In case of upside breakout of 111.58, consider buying to 113.07
3. Consider setting sell limit orders from 113.07.
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