15 Oktober 2015, USD/JPY
The daily chart: So, two consecutive confident crossings of swings down, and then - a full downtrend on the yen - is on effect! The minimum target for the next few days (read - the closest downward swing) - is support 116.16
H1 chart: we expect some upward pullback on the IB at the end of the downward local swing. Strength of the upward swing will determine whether we will have a daily swing up or bears will finalize the current swing.
Expectations:
1) increase from current levels around 119.00-119.40 2) A break under the last bottom (118.09) and drop for another 50-70 points.
solutions:
1) Buy with Stops around 118.20 and target 119.00-119.40
2)Be careful with sales because without a full rising swing, we have no friendly stop-loss level.