We look forward to completing a full day downward swing | 03 August 2015

03 August 2015, USD/JPY

Daily chart: downward swing has not been formed, so it makes a sense to wait for its formation to be able to buy.

We look forward to completing a full day downward swing

Hourly chart: the price is approaching the best possible place for sales on a local downtrend. Bears try to prevent breaking above last Top (124.37), where they will focus their Stop orders.

We look forward to completing a full day downward swing

Scenarios: touching 124.30 and beginning of the new downward swing under 123.51.

Solutions:

1) Sales from 124.30 to target 123.30 with the Stop orders set above 124.37

Aleksey Panasenko
FreshForex Analyst
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