25 August 2015, USD/JPY
The daily chart: a massive swing down without any sign of the end. simply nowhere to go, so you have to wait for a signal tomorrow (or on the lower frame). Previously, trading tactics will be expectation of rising swing to sell on the top
H1 chart: identical pattern - long swing down and no corrective swing upwards. Until there is no ready pattern, there are no reasons to open trades.
Scnearious:
1) Continued decline from current levels to new Lows.
2) Roll back up to 120.40 and then a new swing down on the breakout of the last bottom (116.17)
solutions:
1) Sell from 120.00-120.46 with the target 116.00