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Different Scenarios

Different Scenarios | 05 April 2017

05 April 2017, USD/JPY

Daily chart: the pair is still inside lower Bollinger envelope ready to drop towards 109.41 (lower Bollinger band) against the background of strong trend ADX.

Different Scenarios

Н4: the pair hit the bottom allowed by bullish Over&Under pattern. If the pattern will be still valid, we may see even an upside breakout of middle Bollinger band (111.18). However, it doesn't match daily chart expectations, which causes ambiguity of scenarios for today.

Different Scenarios

Н1: flat within Bollinger bands range (110.32-110.83) may delay sharp price shifts for some time.

Different Scenarios

Expectations: we have two possible scenarios. The first one is flat within 110.32-110.83. The second one is rise to 111.18 or higher to 112.24

Trading signals: consider trying to buy within the framework of bullish O&U with stop-loss below yesterday's low.

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Aleksey Panasenko
FreshForex Analyst
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