04 Agustus 2015, USD/JPY
The daily chart bulls have received all the signs to develop attack to new Highs:the structure is rising, and yesterday's bullish Inside bar. However, the downward swing has not been formed yet, so we can expect some decline.
With all that, we can exclude break of the tendency, for which the bears need to break support of 123.00.
.png "Equally probable scenarios")
Hourly chart: there are all signs for decline, because bears secured themselves with an important downward crossing of swings. This will be true until 124.03 and 124.10 peaks forming a significant resistance zone are "alive".
.png "Equally probable scenarios")
Scenarios:
1) If the area of resistance 124.03-124.10 sustains, we should be waiting for beginning of decline to 123.00
2) Break of the level 124.10 would cause growth to 125.00
Trading solutions:
1) We should belooking for entry signals based on one of the two scenarios.
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