2017.8.18 08:05 Dollar/Yen price movement forecast and scenario
Dollar/Yen Forecast: Reflecting on the Previous Dollar/Yen Price Movement Forecast
Although the forecast suggested a drop toward around 109.400–500, from a personal market perspective I believed it wouldn’t fall that far because the 4-hour chart showed higher highs and higher lows. In the end, it did drop. Personal market intuition is not reliable. From a chart pattern perspective, there is a possibility of a decline toward around 109.000.Previous Dollar/Yen Forecast - 2017.8.17 07:45 Post Scenario (Click the image to go to the article.)
Previous Dollar/Yen Forecast - 2017.8.17 Dollar/Yen 15-minute Chart
Today’s Dollar/Yen Forecast: Building a Scenario for Dollar/Yen Price Movement
It’s a subtly tricky chart. From a chart pattern viewpoint, it looks plausible to move down to around 109.000. A bounce-back seems solid for selling on rallies.＜Posted 2017.8.18 07:35＞
● Scenario 1
If it breaks above 109.581, it may retrace to around 109.700–750, then consolidate or adjust. If it breaks higher from the consolidation, it could rise to around 110.150–200. If it breaks lower or during a pullback, it could drop to around 109.450.
● Scenario 2
If it drops to around 109.100–200, it may retrace to around 109.400–450. If afterward the previous low is broken, there is a possibility of a drop to around 108.500–850.
If it breaks above 109.581, it may retrace to around 109.700–750, then consolidate or adjust. If it breaks higher from the consolidation, it could rise to around 110.150–200. If it breaks lower or during a pullback, it could drop to around 109.450.
● Scenario 2
If it drops to around 109.100–200, it may retrace to around 109.400–450. If afterward the previous low is broken, there is a possibility of a drop to around 108.500–850.
To be continuedhereThe article contains a password.
hereto click to get the password
× ![]()
