USDJPY – DownDaily chart: a very active trend attack on ADX promises buyers good northern outlook (in the medium run – up to 106.30) Н4: local strong resistance 103.98 (the upper Bollinger band, plus the round psychological level). All indicators are heavily overbought. Support is around 102.45 (middle Bollinger band) Н1: expressed massive bearish divergence of the oscillator indicates the inability of the price to move higher than 103.58-103.98, from where we can wait for a correction towards 102.93 and 102.45. The main scenario – touch of 103.58 – 103.98 and then downward correction to 102.93 and 102.45 The alternative scenario – a direct drop to 102.93 and 102.45 Trading solutions: So, we are looking for downward entries inside 103.58 – 103.98 to 102.93 and 102.45
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