Forex Technical Analysis: Trend potential – Downward Reversal

USDJPY – DownDaily chart: oscillator shows starting downward correction in direction of middle Bollinger band (107.49). ADX is agressive but its parameters are already extreme, which is a sign of correction. The pair is not expected to get higher than resistance level 114.25 (upper Bollinger band). Н4: Resistance in 114.28 is confirmed. Supports are in 112.31 and 110.39 (middle and lower Bollinger band) Н1: here is probable enty point for selling – 113.40, technically it is bears’ pattern Over&Under! Sell ladies and gentlemen! Expectations: wait for rollback to 113.40 and then sharp drop to 112.60, 112.31, 110.39. Solutions: sell from 113.40 to 112.60, 112.31, 110.39.
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