Downward swing is required | 05 August 2015

05 August 2015, USD/JPY

Daily chart: Bulls are pressing, but the structure clearly lacks the downward swing. We cannot say for sure that bears will be able to form it, but entering into this movement without such aswing is technically impossible.

Downward swing needed

Hourly chart: Here we see that the optimal depth of a correctional swing could be 124.03.

Downward swing needed

Scenarios: so, we are waiting for downward swing, then its formation on the edge of any Buy signal RA and buy expecting a move above the last top(124.39).

Trading solutions

1) We are looking for buying options from 124.03 to 124.53 and 125.00.

Aleksey Panasenko
FreshForex Analyst
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