01 Maret 2017, USD/JPY
Daily chart: we have flat in corridor 111.68-114.21 (Bollinger envelopes range). So we expect touch of upper border and bounce to the downside.
Н4: here we are observing reversal bullish Over&Under pattern, thus 112.00 is potential dollar demand region. One may look for possible sell signals in here.
Н1: strong resistance level at 113.71 (upper Bollinger band) can trigger rollback towards 112.00 (through supports at 113.11, 112.60)
Expectations:
Core scenario - touch of 113.71 followed by drop to 112.00 region
Alternative scenario - direct growth to 114.21.
Solutions:
1. Consider limited buying from 112.00 (with stop-loss below 111.60, and take-profit at 114.20)
2. Consider limited selling from 114.21.
3. Consider intrady selling from 113.71 to 112.00