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Sales under the false breakdown of the IB

Sales under the false breakdown of the IB | 24 November 2015

24 November 2015, USD/JPY

Daily chart: An upward false breakdown of the Friday's inside bar. This at least means that bulls can not continue to move without the full downward swing. And, as a maximum, this can lead to a complete reversal of the pair downward, as loss of support in the area of ​​the last bottom (122.21) will bring the bearish reversal pattern Over&Under

H1: ocally rising structure. Either the pair will get above the last peak (123.25, blue arrow), or we'll have a technical pullback to the 50% area of ​​ the day pin (123.04-123.15. see red arrow).

Expectations:

1) Growth to 123.04-123.15 zone and then fall towards 122.25. 2) Growth with a break above 123.25

Solutions: We consider sales from the area 123.15 with Stops placed above 123.25 and target 122.00

Aleksey Panasenko
FreshForex Analyst
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