21 March 2017, USD/JPY
Daily chart: ADX shows growing trend, for now broad flat corridor of 112.00-115.18 (Bollinger envelopes range) is likely to stay valid.
Н4: there is more narrow flat corridor of 112.24-113.56 (Bollinger bands). Moreover, we have resistance level and psychological round level around middle Bollinger band (113.01). Considering falling trend ADX, we may expect the price to stay within the specified corridor during the day.
Н1: here we have flat corridor of 112.42-112.89, however ADX shows growing trend, so there is a chance of breakout. In case of upward breakout of 112.89, we would see bullish Over&Under pattern with entry point at 112.42.
Expectations: we are expecting the price to touch 113.01 region and then roll back to 112.42. In this region we may see mid-term rise towards 113.56.
Solutions:
1. Consider entering short from 113.01 to 112.42
2. Consider entering long from 112.42 to 113.56
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