03 Agustus 2015, USD/JPY
Daily chart: downward swing has not been formed, so it makes a sense to wait for its formation to be able to buy.
Hourly chart: the price is approaching the best possible place for sales on a local downtrend. Bears try to prevent breaking above last Top (124.37), where they will focus their Stop orders.
Scenarios: touching 124.30 and beginning of the new downward swing under 123.51.
Solutions:
1) Sales from 124.30 to target 123.30 with the Stop orders set above 124.37