15 December 2016, USD/JPY
Daily chart: aggressive bullish ADX indicates that the market is ready to conquer new highs (119.00-120.00 range). Sells are strictly prohibited:)
Н4: despite strong uptrend, here we can see correctional signals such as 4 bars beyond upper envelope. The pair could also roll back from some psychological level, for instance, from 118.00. Support level is 115.64 (middle Bollinger band)
Н1: this is a potential range of possible downward rollback, this is upper Bollinger band (118.66). Support level is localized in 116.37 (middle Bollinger band).
Expectations: we expect pair growth to 118.66 and later rollback to 116.37.
Solutions:
1. Buy closer to 118.66
2. Sell in the range from 118.66 to 116.37
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