Excellent chance for purchased, looking for the entrance | 29 July 2015

29 July 2015, USD/JPY

Daily chart an impressive Inside bar has been produced at the end of the downward swing that allows you to look for the upper entry expecting a move above the last Top (124.47) and this movement can be impressive based on a strong potential of zone of resistance (and therefore, a potential of its possible breakthrough)

Excellent chance for purchased, looking for the entrance

Hourly chart: the best entrance is likely to be the entrance on the edge of the local downward swing (which is being formed right now). At the same time, bulls should not lose support 123.32.

Excellent chance for purchased, looking for the entrance

Scenarios: decline to 123.40 and beginning of growth attacking 124.47

Trading solutions:

1) Purchases from 123.40 to 125.00 and above (in the medium run).

Aleksey Panasenko
FreshForex Analyst
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