27 Maret 2017, USD/JPY
Daily chart: bulls managed to close Friday session with inside bar, that may trigger correction towards middle Bollinger band (113.24) if bears won't be able to offset this inside bar. However, even such a significant rollback will not reverse general decline (see blue arrow).
Н4: here we have strong resistance levels around middle and upper Bollinger bands (111.39 and 112.28). Any of these levels may set off decline.
Н1: ADX shows corrective trend, so there may be an unbreakable resistance in 111.54 region (upper Bollinger band). Strong support level is at 110.79.
Expectations:
Core scenario - flat at 110.79-111.54
Alternative scenario - breakout either to the down- or to the upside from range of 110.79-111.54, and 70-pip shift to the side of breakout.
Trading signals: short positions are more preferred. Consider looking for trading signals in 111.54 region
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