17 September 2015, USD/JPY
The daily chart: so, we see a clampd swing spring, which is likely to shoot up towards 124.38, where we have supply zone for the US dollar within bearish O & amp; U. If markets choose to drop, then breach of the last bottom (119.41) will confirm that.
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H1 chart: rising structure of a high quality without signs of reversal. In case of the downward swing, it will be possible to buy in the area of 120.50. Reversal will require a broken support 120.34, in this case, we get bearish local O & amp; U of 120.72
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Expectations:
1) Growth towards 124.38. We can enter in the zone 120.50
2) In case of breaking 120.34 - drop to 119.84 and expect sales from 120.72 according to O & amp; U. .
solutions: 1) Purchase from 120.50 with Stops under 120.34 2) In case of drop under 120.34 - we put Sell Limit orders at 120.70 with Stops above 120.91.
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