7/6 5:57 Newsletter delivery: Dollar-yen price movement scenario
Today’s USD/JPY Forecast: Building Scenarios for USD/JPY Price Movement
I usually send the newsletter around 5:50, following the scenario below, but there wasn’t much difficulty this time. It was indeed about 10 minutes later than usual, but today I overslept a bit and started drafting the scenario around 5:20, so in effect it was about 15 minutes earlier than usual. The chart patterns are clearly visible, and since the levels of resistance and support hadn’t changed from before, the scenario itself was easy to outline, but there are times when the market image is easy to grasp and times when it is not.At times when the entry and exit points are easy to identify, when market psychology is easy to understand, when the movement is easy to determine how the market is judging, the information emitted by the chart changes its shape daily; almost nothing remains the same.
When you feel that the market is a little unclear, it is also important to “wait and see.”
＜2018.7.6 05:57 Newsletter Distribution＞
● Scenario 1
Detailshere
● Scenario 2
If the range around 110.500–700 is broken to the downside, it will drop to around 110.400–300, indicating a range-bound or corrective move. A break below the range would push to around 110.150–050. A break above the range or a correction would push to around 110.750–650. After a drop to around 110.150–050, the price may again range or correct in that vicinity. If it breaks below the range, it could fall to around 109.950–850; if it breaks above the range or experiences a correction, it could rise to around 110.550–450. If the price falls to around 109.950–850 and downward momentum strengthens, it could fall further to around 109.700–500.
Detailshere
● Scenario 2
If the range around 110.500–700 is broken to the downside, it will drop to around 110.400–300, indicating a range-bound or corrective move. A break below the range would push to around 110.150–050. A break above the range or a correction would push to around 110.750–650. After a drop to around 110.150–050, the price may again range or correct in that vicinity. If it breaks below the range, it could fall to around 109.950–850; if it breaks above the range or experiences a correction, it could rise to around 110.550–450. If the price falls to around 109.950–850 and downward momentum strengthens, it could fall further to around 109.700–500.
Image of the Uptrend Scenario
Image of the Downtrend Scenario
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