Bullish trend | 06 November 2015

06 November 2015, USD/JPY

Daily chart: if bulls prevent bear’s bar in the end of upward swing, then there will be a strong increase here. In other case, there will be a strong downward trend i.e. upward structure allows decreasing till 120.23. It’s last Low.

Bullish trendH1: buyers have local problems here, because of hour IB at the end of upward swing. It’s a signal for decline. But if the price breaks 121.99 level, there will be new upward trend.

Bullish trendScenarios: 1) Growth above 122.00 and then to 123.00 or even to 124.00 2) If it can’t break 122.00 – correction towards 120.50 Trading solutions: 1) Long orders from 122.00 to 123.00 and 124.00 2) Short positions against trend. It can be profitable, but I would not recommend it.

Aleksey Panasenko
Analis perusahaan "FreshForex"
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