Positional advantage of buyers | 29 October 2015

29 October 2015, USD/JPY

The daily chart: yesterday the best possible scenario for buyers was implemented - the price fulfilled swing down and clearly indicated general upward momentum. Therefore, in spite of substantial correction, which takes place today, the pair is supposedly preparing to leap to new highs (above recent peaks 121.49 and 121.73)

H1 chart: bulls need to be more aggressive, ie rising swing lacks only one intersection, required for higher movement

Expectations: so. waiting for a rise above 121.49 and a possible breakthrough in the 122-th figure.

solutions: Purchases to 122.00, 122.50

Aleksey Panasenko
FreshForex Analyst
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