2018.8.8 05:34 Newsletter delivery USD/JPY price movement scenario
Today’s USD/JPY Forecast: Building a Scenario for USD/JPY Price Movement
On the 4-hour chart, the previously seemed-broken downward flag has re-emerged.If this completes, technically the price could rise to around 112.300.
On the 15-minute chart, the current fourth wave correction is unfolding, so it will be watched whether it settles around 111.350.
＜2018.08.08 05:34 Newsletter Release＞
● Scenario 1
If the range from 111.350 to 111.450 breaks upward, it could rise to around 111.550–111.650, then enter a range or correction. A breakout above the range could push to around 111.750–111.850. A break below the range or a correction could push down to around 111.200–111.300. After rising to around 111.750–111.850, it may again trade within that vicinity or undergo a correction. If the price breaks higher from the range, it could rise to around 112.000–111.00.
● Scenario 2
If the range from 111.350 to 111.450 breaks downward, it could fall to around 111.250–111.150, then enter a range or correction. A breakout below the range could push to around 111.050–110.950. A breakout above the range or a correction could push to around 111.500–111.400. After falling to around 111.050–110.950, it may again trade within that vicinity or undergo a correction. A breakout below the range could push to around 110.850–110.750. A breakout above the range or a correction could push to around 111.350–111.250. If the downside move strengthens after reaching around 110.850–110.750, there is a possibility of a decline to around 111.650–111.450.
If the range from 111.350 to 111.450 breaks upward, it could rise to around 111.550–111.650, then enter a range or correction. A breakout above the range could push to around 111.750–111.850. A break below the range or a correction could push down to around 111.200–111.300. After rising to around 111.750–111.850, it may again trade within that vicinity or undergo a correction. If the price breaks higher from the range, it could rise to around 112.000–111.00.
● Scenario 2
If the range from 111.350 to 111.450 breaks downward, it could fall to around 111.250–111.150, then enter a range or correction. A breakout below the range could push to around 111.050–110.950. A breakout above the range or a correction could push to around 111.500–111.400. After falling to around 111.050–110.950, it may again trade within that vicinity or undergo a correction. A breakout below the range could push to around 110.850–110.750. A breakout above the range or a correction could push to around 111.350–111.250. If the downside move strengthens after reaching around 110.850–110.750, there is a possibility of a decline to around 111.650–111.450.
Image of the Uptrend Scenario
Image of the Downtrend Scenario
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