20 October 2015, USD/JPY
The daily chart: yesterday we have unexpectedly received bullish inside bar, thus creating a threat to the downward trend (in the event that the momentum distribution of the last top-up exceeds 120.56). But meanwhile we still base ourselves on continuation of the downtrend, so we expect limited potential for upward movement
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H1 chart: local clampedrange. Downstairs, in the area of 118.62 there is a demand in the dollar as part of the pattern O&U, therefore, the price can drop to this zone (red arrow). But in the case of a break above 119.65, growth will have a dominant role this day.
.png "The ambiguous situation")
Expectations:
1) Decline to 118.62 and beginning of growth to 120.00. We consider this scenario in the event of withdrawal of the price under 119.13 2) With the break above 119.64 – we shall expect growth to zone 120.40.
solutions: 1) We are waiting with buy limit orders in the area of 118.62 2) Buy with the breakdown of 119.65 with a view to 120.40 3) In the area of 120.40, when we have Sell signals - enter and keep a deal for the medium- term within the frames of a day downward swing
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