Expect a corrective swing down | 06 October 2015

06 October 2015, USD/JPY

The daily chart: swing up has been equipped and the new High was not set, it's a chance for sellers. Thus, bulls have a room for maneuver, because they just do not let a new low to happen (this goes under the support 118.69)

Expect a corrective swing down

H1 chart: As you can see, the structure has still no direction, however, with a high probability, the price will develop a rollback in the form of a swing down. Upon that, we are concerned with a very long upward swing, by which bulls absorbed all the previous structure.

Expect a corrective swing down

Expectations: roll back down to the zone 119.50

solutions:

1) I would recommend to wait for tomorrow, but especially stubborn bears may try to sell to 119.50

Aleksey Panasenko
FreshForex Analyst
Agree with the review?
Traders' opinion:
Close
Login
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .