An ongoing upward correction | 30 Juni 2016
30 Juni 2016, USD/JPY
Daily chart: a confident rising technical correction to the middle Bollinger band (105.80), whereupon a new descending wave towards 101.26 (the bottom Bollinger band) is expected to start.
Н4: ADX is close to trend and is growing. Thus, a break above 103.18 (upper Bollinger band) will enable a breakthrough to 105.80
Н1: here the ADX is rising, but has not yet reached the trend valueyet, so the pair can stay in the upper envelope (102.55-103.18) before the main growth phase.
The main scenario - a downward rollback from 103.18 to 102.55 followed by a start of main correction phase towards 105.80 (extraday)
The alternative scenario - a direct surge to 105.80
Solutions: Buy from 102.55 to 103.18 and 105.80 (extraday)
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
