30 Oktober 2015, USD/JPY
The daily chart: confusion in the structure. Yesterday bulls received a very good IB and instead of active breakup to new highs (and confirming, via this, a rising structure) allowed a double top and now it threatens them with a full loss of all dividend if bears can break through the last bottom (120.02). We are waiting.
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H1: Here, in turn, we seen that bulls are ready to "show teeth" - a local double bottom. So the key support - 120.27
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Expectations:
1) If the support 120.27 withstands - we're waiting for growth to new daily highs (above 121.48). 2) In the case of withdrawal under 120.27, we will be waiting for attack of 120.02, which results we will analyze on the weekend.
solutions: 1) Buy from the current levels with Stop at 120.27 and take profit above 121.48. 2) Sales would make sense only after breakdown of the level 120.02, and today it is late for these entries.
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