Strategy in Play:
The USD/JPY has bounced from its support zone on a 30 minute time frame as predicted. The price is trading below the 50 day (shown in green) and the 100 day (shown in yellow) moving averages which means that the bears are in control. The volatility for the pair is high as the price has pierced the Bollinger band and it is trading away from its 20 day moving average. The piercing of the Bollinger band does have a significant importance when this takes place at a resistance/support zone, because this has an ability to stop the upward/downward move or reverse the trend
The RSI is trading near the oversold zone which means that the bias could be to the upside.