29 3月 2017, USD/JPY
Daily chart: support level at 110.15 is a starting point of rapidly developing upside correction which may reach middle Bollinger band (113.08).
Н4: here resistance level is around upper Bollinger band (111.51). ADX shows corrective trend, envelopes are steady, so the main expectation is bounce down (see blue arrow).
Н1: here bullish trend potential is still valid, the price may reach resistance level at 111.51. Support level is on middle Bollinger band (110.67)
Expectations:
Core scenario - shot to 111.51 followed by bounce to the downside.
Alternative scenario - preliminary rollback to 111.67 region followed by downside breakout of 111.51.
Trading signals:
1. Consider buying to 111.51
2. Consider selling from 111.51 towards 110.67