Wait for the downward swing formation on the daily chart | 14 August 2015

14 August 2015, USD/JPY

Daily chart: we see the unformed swing from below and the inside bar. If following the bearish continuation, we can suppose the probable fake IB breakthrough down for fully formation of the downward swing and then the growth to new maximums (above the last peak 125.27).

Wait for the downward swing formation on the daily chart

Hourly chart: here the structure has non-directed nature, so, probably the support zone will be 123.78, which in this case supports the par. Without this breakthrough the swing won’t be formed on the daily chart. So we cannot exclude the fact.

Wait for the downward swing formation on the daily chart

Scenarios: a try to break below 123.78.

Trading solutions:

1) Wait for the up-signal at the movement below 123.78

Aleksey Panasenko
FreshForex Analyst
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