2018.1.23 FX-ON Submission Time 08:45 Forecast and Scenario for USD/JPY Price Movement

USD/JPY Forecast: Reflecting on the Previous USD/JPY Price Movement Prediction

Today, my wife has been discharged from the hospital, and I need to take our little one to her family's house, so this update is a bit earlier than usual. Since she is discharged at 10:30, we must arrive at the hospital before then. In Kanagawa Prefecture, heavy snowfall has accumulated, so we must drive carefully... The previous forecast correctly predicted the direction of the market stated at the beginning. However, because the consolidation was prolonged, the resistance I thought would function was broken through all at once. There was no drop to 550 from 110.910; instead, it turned around and rose to the point I had forecast with Stock-Measure.

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Previous USD/JPY Forecast (click the image to go to the article)

Previous USD/JPY Forecast USD/JPY 15-minute Chart

Today’s USD/JPY Forecast: Building a Scenario for USD/JPY Price Movement

Looking at the 4-hour chart in a raw view, a symmetrical triangle is forming.If it breaks downward, it is likely to be stopped at the red support directly below. The range play is more appealing if it breaks upward. There is a high likelihood of reaching the point shown in the image. The basic approach is to follow the direction of the breakout, but a downside breakout is somewhat unfavorable in risk-reward terms, while an upside breakout is favorable, so you may want to keep that in mind. If so, you might pass on the downside breakout and follow the upside breakout.
＜Posted 2018.1.23 08:00＞


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An EA using this price-movement prediction logic ishereavailable for free.