2018.3.21 FX-ON Submission Time 12:10 Dollar/Yen Price Movement Forecast and Scenarios
Last Time USD/JPY Forecast (Click the image to go to the article.)
Last Time USD/JPY Forecast USD/JPY 15-minute Chart
Today’s USD/JPY Forecast Building a Scenario for USD/JPY Movements
As mentioned in the video, it is currently in a two-step range between 106.350–450 and 106.450–550.For a while, it will trade within the 350–550 price range, and from there the market will decide whether it will move upward or downward as the launchpad is completed.
＜2018.3.21 05:45 Scenario Creation＞
● Scenario 1
If the 106.350–550 range is broken upward, price may rise to around 106.650–750, forming a range or a pullback. A breakout above the range would push to around 106.850–950. If the price breaks below the range or pulls back, it could drop to around 106.250–350. After rising to around 106.850–950, it may trade within or adjust around that area again. If it breaks above the range, it could rise to around 107.050–150. If it breaks below the range, it could fall to around 106.450–550. If it rises to around 107.050–150 and momentum upward strengthens, it could rise further to around 107.250–550.
● Scenario 2
If the 106.350–550 range breaks downward, price may fall to around 106.250–150, forming a range or a pullback. A breakdown below the range could push to around 106.050–105.950. A breakout above the range or pullback would push to around 106.550–450. After falling to around 106.050–105.950, it may again trade within or adjust around that area. A breakdown below the range could take it to around 105.850–750. If it breaks above the range, it could rise to around 106.250–150. If the downward move strengthens, it could fall further to around 105.650–350.
If the 106.350–550 range is broken upward, price may rise to around 106.650–750, forming a range or a pullback. A breakout above the range would push to around 106.850–950. If the price breaks below the range or pulls back, it could drop to around 106.250–350. After rising to around 106.850–950, it may trade within or adjust around that area again. If it breaks above the range, it could rise to around 107.050–150. If it breaks below the range, it could fall to around 106.450–550. If it rises to around 107.050–150 and momentum upward strengthens, it could rise further to around 107.250–550.
● Scenario 2
If the 106.350–550 range breaks downward, price may fall to around 106.250–150, forming a range or a pullback. A breakdown below the range could push to around 106.050–105.950. A breakout above the range or pullback would push to around 106.550–450. After falling to around 106.050–105.950, it may again trade within or adjust around that area. A breakdown below the range could take it to around 105.850–750. If it breaks above the range, it could rise to around 106.250–150. If the downward move strengthens, it could fall further to around 105.650–350.
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I tried forecasting USD/JPY in a video
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