05 Oktober 2015, USD/JPY
The daily chart: two weeks in run of attempts to break new lows showed the inability to close below the support level 119.41. This is the evident bullish karma and probable demonstration of big buyers at the bottom. The structure now is that with a new upward swing is very desirable to stitch the last vertex (121.24). Entering this swing should be done on a pullback to 50% Friday pin zone (from the same area 119.41)
.png "Swing scenario for the Yen")
H1 chart: there are preconditions for a downward reversal, in particular - the IB at the end of the upward swing on consecutive decline of peaks. But on the other hand, the possible downward swing fits into the scenario with a rollback to zone 119.41. A finished reversal structure down will be started with the breakdown of the last bottom (118.68).
.png "Swing scenario for the Yen")
Scenarios:
1) Rollback from current levels to the area of 119.41, and then impulse rise above 121.24 2) With the price getting below 118.68 we will get a turn down and seek entry points down the next day on the upward pullback.
solutions:
1) Buy from 119.41 to 121.50
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