2017.9.5 06:55 USD/JPY movement forecast and scenario
Dollar/Yen Forecast: Reviewing the Previous Dollar/Yen Price Movement Forecast
It may be the first time in a while that we have missed by such a wide margin. If you became a reader in the last month, you may not remember it clearly.Previous Dollar/Yen Forecast 2017.9.4 07:05 Post Scenario (Click the image to go to the article)
Previous Dollar/Yen Forecast 2017.9.4 Dollar/Yen 15-minute Chart
Today’s Dollar/Yen Forecast: Building a scenario for Dollar/Yen price movement
In terms of chart patterns, when viewed on 15-minute or 60-minute timeframes,triangle consolidationthere is a high possibility of about 50 PIPS movement in the direction of the breakout above or below.＜2017.9.5 06:45 Post＞
● Scenario 1
If it breaks above 109.752 and breaks the triangle consolidation upward, it will range around 109.850–900, and then rise to around 110.050–150 on an upside breakout of the range. If it breaks below the range, it will fall toward around 109.600. If it rises to 110.050–150, it will then consolidate or adjust there. If it breaks above the range, it could rise to around 110.250–400. If it breaks below the range or adjusts, it may fall to around 109.850.
● Scenario 2
If it breaks below 109.375 and breaks the triangle consolidation downward, it will range around 109.250–300, and a breakout below the range could push it to around 109.050–100. If it breaks above the range, it could rise to around 109.600. If it falls to around 109.050–100, there will be consolidation or adjustment. A breakout below the range could push it to around 108.700–108.850. A breakout above the range or adjustments could push it to around 109.300.
Soon, we will release an EA that uses this price movement logic.If it breaks above 109.752 and breaks the triangle consolidation upward, it will range around 109.850–900, and then rise to around 110.050–150 on an upside breakout of the range. If it breaks below the range, it will fall toward around 109.600. If it rises to 110.050–150, it will then consolidate or adjust there. If it breaks above the range, it could rise to around 110.250–400. If it breaks below the range or adjusts, it may fall to around 109.850.
● Scenario 2
If it breaks below 109.375 and breaks the triangle consolidation downward, it will range around 109.250–300, and a breakout below the range could push it to around 109.050–100. If it breaks above the range, it could rise to around 109.600. If it falls to around 109.050–100, there will be consolidation or adjustment. A breakout below the range could push it to around 108.700–108.850. A breakout above the range or adjustments could push it to around 109.300.
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