28 October 2015, USD/JPY
The daily chart - in the framework of rollback downward swing, yesterday bears broke the Monday inside bar and now have a good chance to continue correction (since the downward swing lacks the second crossing down). However, on any decrease of yesterday's lows, we can expect beginning of a strong upward swing
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H1: local downward structure in the phase of formation of the upward swing. For bears, the most important resistance is the last top (121.09). As long as this level is not broken, sellers have the opportunity to build further structure down to break the last bottom (120.15). But if 121.09 is broken, bulls will have carte blanche to develop swing up even further, to 121.48 and more.
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Expectations:
1) Touch of area 121.00 and a new swing down under 120.15. 2) A break above 121.09 - growth to 121.48 and possibly to 122.00.
solutions: 1) When we have short signals in the area of 121.00 - sell with stops above 121.09 and goal 120.00. 2) A break above 121.09 - either buy to 121.48, or skip this swing up, then skip the next swing down and only then we buy on the next up swing (because it will have the maximum capacity of movement).
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