We are waiting for a buy signal in the area of ​​123.70 | 30 July 2015

30 July 2015, USD/JPY

Daily chart: the price has closely approached to the latest top (and strong resistance zone) - 124.47. Here we have absolutely equally probable scenarios of an attack in the upward direction and a downward pullback. We shall wait for a better clarity.

We are waiting for a buy signal in the area of ​​123.70

Hourly chart: an awkward upward swing gives us a bullish market. This, it is reasonable to wait for the downward swing and occurence of Buy signal on its end.

We are waiting for a buy signal in the area of ​​123.70

Scenarios: So, we are waiting for a downward pullback to 123.70 and a new upward swing shaped to attack 124.47.

Trading solutions:

1) We are waiting for a buy signal in the area of ​​123.70

Aleksey Panasenko
FreshForex Analyst
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