2017.7.9 15:30 Yen-Dollar movement forecast and scenario
USD/JPY Forecast - Reviewing the Previous USD/JPY Price Movement Forecast
We took a break on Thursday and Friday due to the employment statistics. Fight when it’s favorable; do not fight when it’s unfavorable, that is the basic principle. Stock-Measure often did not function well when employment statistics were close, so we postponed including scenarios. The following is the scenario and results analyzed on 7/5, so please note.Previous USD/JPY Forecast 2017.7.5 06:05 Post Scenario (Click the image to go to the article.)
Previous USD/JPY Forecast 2017.7.5 USD/JPY 60-minute chart
Today’s USD/JPY Forecast - Building a scenario for USD/JPY price movement
From a chart pattern perspective, there is a possibility of extending from near 115 yen to above 115 yen, but based on the short-term Stock-Measure output, a breakout of the range 112.700–113.700 could turn into a false break and then a pullback formation. We will attempt to forecast by considering both possibilities.＜2017.7.9 13:30 Post＞
● Scenario 1
A drop from the range of 113.850–114.050 to around 113.600. A further drop from the range around 113.600–113.800 to around 113.100. A breakout above the range around 113.600–113.800 could extend to around 114.400.
● Scenario 2
A breakout above the range of 113.850–114.050 to around 114.400. Afterward, a range-trading/adjustment, and if the previous high is broken to the upside, it could extend to around 114.800–115.100.
The article has a password.A drop from the range of 113.850–114.050 to around 113.600. A further drop from the range around 113.600–113.800 to around 113.100. A breakout above the range around 113.600–113.800 could extend to around 114.400.
● Scenario 2
A breakout above the range of 113.850–114.050 to around 114.400. Afterward, a range-trading/adjustment, and if the previous high is broken to the upside, it could extend to around 114.800–115.100.
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