2017.6.29 06:40 The forecast and scenarios for USD/JPY price movement
Dollar/Yen Forecast: Reviewing the Previous Dollar/Yen Price Movement Forecast
Yesterday there was a range-bound movement, and the dollar/yen price action basically hit the target almost perfectly. As expected, charts observed in the morning when the mind is clear forecast with uncanny accuracy, as if coming from the future.Previous Dollar/Yen forecast 2017.6.28 07:25 Post Scenario (Click image to go to article)
Previous Dollar/Yen forecast 2017.6.28 Dollar/Yen 60-minute chart
Today's Dollar/Yen Forecast: Building a Scenario for Dollar/Yen Price Movement
It is about time to break out of the consolidation. The expected price range on a break is about 65 pips, so yesterday’s scenario can be used as is. The rate is based on MT4.＜2017.6.29 06:20 Post＞
● Scenario 1
If the high of 112.459 on 6/26 is surpassed, it will range around 112.500–112.550, then rise to 112.630–112.750. After a pullback to around 112.450, if the previous high is surpassed, it will rise to around 112.850–113.100. If the previous high cannot be surpassed, it may fall to around 112.200.
● Scenario 2
If the 60-minute close below 112.100 occurs, it will range around 112.050–112.200, then a breakdown breakout to around 111.850–112.050, or a breakout to around 112.350 on the upside. If the low of 112.823 is broken, a double top completes and it may fall to around 111.200.
If the high of 112.459 on 6/26 is surpassed, it will range around 112.500–112.550, then rise to 112.630–112.750. After a pullback to around 112.450, if the previous high is surpassed, it will rise to around 112.850–113.100. If the previous high cannot be surpassed, it may fall to around 112.200.
● Scenario 2
If the 60-minute close below 112.100 occurs, it will range around 112.050–112.200, then a breakdown breakout to around 111.850–112.050, or a breakout to around 112.350 on the upside. If the low of 112.823 is broken, a double top completes and it may fall to around 111.200.
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