Yen is still on the verge of reversal | 06 ديسمبر 2016

Daily chart: the pair is almost out of its bullish potential, although upper Bollinger band is still high (116.71) and still attractive. However, this level is dynamic and, apparently, will decrease during the session. On every upward shift one can look for new signals to sell in direction of middle Bollinger band (110.51)

Н4: bear oscillator divergence indicates that buyers are surrendering. Resistance level is 114.59, support level is 113.29 (upper and lower Bollinger bands respectively).

Н1: flat range is 113.34-114.50. ADX's potential is growing. Considering bears' momentum on the chart (bears' bars easily outweigh bulls' achievements) the pair is on the verge of reversal.

Expectations:

Core scenario - at first, touch in 114.50 and then drop to 113.34 or lower

Alternative scenario - the last upward shift to 115.00-115.50 before sharp downward reversal.

Solutions: look for downward entry points according to one of the above mentioned scenarios.