Consolidation may continue | 19 August 2015

19 August 2015, USD/JPY

The daily chart: there are two prerequisites for decline at once - no downward swing, as well as presence of bullish O & U from the zone of the last but one bottom 121.92. In the first case, we will see that support 123.00 will sustain, the second - breakdown of this support (black arrow).

Consolidation may continue

H1 chart: a multidirectional nature of accumulation, therefore, the last bottom will defend itself.

Consolidation may continue

Scenarious: perhaps, we will see trading between 124.17 and 124.47.

Trading solutions:

1) efrain from any action until we have clear signals.

Aleksey Panasenko
FreshForex Analyst
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