Upward reversal is probable | 08 October 2015

08 October 2015, USD/JPY

The daily chart: a downward swing has been staffed, so we have an equiprobable situation - a continuation of drop either reversal in the upward swing

Upward reversal is probable

H1 chart: a multi swing descending structure looks very intense, at the end of the last downward swing there is a pinbar, which has every chance to reverse up the structure.

Upward reversal is probable

Expectations:

1) Upward reversal - growth from the current levels to 120.35

2) Continue - break under 119.62 and decline to 119.00

solutions: We buy from the market to 120.35 with Stop orders under 119.62

Aleksey Panasenko
FreshForex Analyst
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