2018.2.6 FX-ON Posting Time 10:10 Forecast and Scenario of USD/JPY Movements
Last USD/JPY Forecast (Click the image to go to the article)
Last USD/JPY Forecast USD/JPY 15-minute chart
Today’s USD/JPY Forecast Building a Scenario for USD/JPY Movement
Technically, the pattern resembles a completed return move from a double top.＜Daily Chart＞
From a technical analysis perspective, once the range boxed in red is broken, there is a high likelihood of a decline toward the target price area.＜2018.2.6 08:45 Post＞
● Scenario 1
If the range between 109.050 and 109.250 is broken to the upside, there may be a rise toward around 109.350, followed by a range or a pullback. Breaking above the range could push toward around 109.450–109.550. If the range breaks to the downside or a pullback occurs, the price could fall to around 109.050–109.000. After rising to around 109.450–109.550, it may again range or pull back near that area. If the range breaks to the upside, it could rise toward around 109.750–109.850. If it breaks to the downside or pulls back, it could fall toward around 109.200–109.300. If it rises to around 109.750–109.850 and the upside momentum strengthens, there is a possibility of rising toward around 110.150–110.250.
● Scenario 2
If the range between 109.050 and 109.250 is broken to the downside, the price could fall to around 108.950–108.850, followed by a range or pullback. If the range breaks to the downside, it could fall to around 108.650–108.550. If the range breaks to the upside or a pullback occurs, it could rise to around 109.250–109.150. After falling to around 108.650–108.550 and then moving into that vicinity again, it could range or pull back. If the range breaks to the downside, it could fall to around 108.350–108.250. If it breaks to the upside or pulls back, it could rise to around 109.150–109.050. If it falls to around 108.350–108.250 and the downside momentum strengthens, there is a possibility of breaking below 108.000.
If the range between 109.050 and 109.250 is broken to the upside, there may be a rise toward around 109.350, followed by a range or a pullback. Breaking above the range could push toward around 109.450–109.550. If the range breaks to the downside or a pullback occurs, the price could fall to around 109.050–109.000. After rising to around 109.450–109.550, it may again range or pull back near that area. If the range breaks to the upside, it could rise toward around 109.750–109.850. If it breaks to the downside or pulls back, it could fall toward around 109.200–109.300. If it rises to around 109.750–109.850 and the upside momentum strengthens, there is a possibility of rising toward around 110.150–110.250.
● Scenario 2
If the range between 109.050 and 109.250 is broken to the downside, the price could fall to around 108.950–108.850, followed by a range or pullback. If the range breaks to the downside, it could fall to around 108.650–108.550. If the range breaks to the upside or a pullback occurs, it could rise to around 109.250–109.150. After falling to around 108.650–108.550 and then moving into that vicinity again, it could range or pull back. If the range breaks to the downside, it could fall to around 108.350–108.250. If it breaks to the upside or pulls back, it could rise to around 109.150–109.050. If it falls to around 108.350–108.250 and the downside momentum strengthens, there is a possibility of breaking below 108.000.
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