2017.7.5 06:20 USD/JPY movement forecast and scenario
USD/JPY Forecast: Reviewing the Previous USD/JPY Price Movement Forecast
I expected a minimal move due to consolidation, but it pushed down more than anticipated. After that it rebounded, but I thought the daily resistance might be in play.Previous USD/JPY Forecast July 4, 2017 06:55 Post Scenario (Click the image to go to the article)
Previous USD/JPY Forecast July 4, 2017 USD/JPY 60-minute Chart
Today’s USD/JPY Forecast: Building a Scenario for USD/JPY Price Action
It has broken above the flag, and if this breakout is genuine, the projected energy is around 45 PIPS. Assuming the starting point is around 113.200, the target is estimated to be around 113.650.＜Posted 2017.7.5 06:05＞
● Scenario 1
If the breakout above is real, it could consolidate around 113.400–113.450, with a potential rise to around 113.640–113.820 upon another breakout.
● Scenario 2
If the breakout above was a false move and 113.300 is exceeded, it could consolidate around 113.400–113.450, and a downside breakout could push to 113.100. If 113.300 cannot be surpassed, it may drop to 113.100. If it rebounds, it could re-enter the range. If there is no rebound, it could fall toward around 112.850.
This scenario uses some outputs from Stock-Measure.If the breakout above is real, it could consolidate around 113.400–113.450, with a potential rise to around 113.640–113.820 upon another breakout.
● Scenario 2
If the breakout above was a false move and 113.300 is exceeded, it could consolidate around 113.400–113.450, and a downside breakout could push to 113.100. If 113.300 cannot be surpassed, it may drop to 113.100. If it rebounds, it could re-enter the range. If there is no rebound, it could fall toward around 112.850.
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