9/4 5:58 Newsletter distribution: Forecast and scenarios for USD/JPY price movement
Today’s USD/JPY Forecast: Building scenarios for USD/JPY price action
This is a chart pattern of a symmetrical triangle.Perhaps the battle plan described in a previous article will be useful.
＜2018.9.4 05:58 Newsletter distribution＞
● Scenario 1
If it breaks above the triangle, it will rise toward around 111.200–111.300, then enter a range or pullback. A breakout above the range would push toward around 111.400–111.500. If it breaks below the range or pulls back, it could fall toward around 111.000–111.100. After rising toward around 111.400–111.500, it may again range or pull back around that level. If it breaks above the range, it could rise to around 111.650–111.750. If it breaks below the range or pulls back, it could fall to around 111.150–111.250. If it rises to around 111.650–111.750 and the upside momentum strengthens, there is a possibility of rising toward around 111.850–112.050.
● Scenario 2
If it breaks below the triangle, it will fall toward around 110.950–110.850, entering a range or pullback. A breakout below the range would push toward around 110.750–110.650. A breakout above the range or pullback would push toward around 111.150–111.050. After falling to around 110.750–110.650, it may again range or pull back around that area. If it breaks below the range, it could fall to around 110.550–110.450. If it breaks above the range or pulls back, it could rise toward around 111.000–110.900. If it falls to around 110.550–110.450 and the downside momentum strengthens, there is a possibility of falling toward around 110.350–110.150.
If it breaks above the triangle, it will rise toward around 111.200–111.300, then enter a range or pullback. A breakout above the range would push toward around 111.400–111.500. If it breaks below the range or pulls back, it could fall toward around 111.000–111.100. After rising toward around 111.400–111.500, it may again range or pull back around that level. If it breaks above the range, it could rise to around 111.650–111.750. If it breaks below the range or pulls back, it could fall to around 111.150–111.250. If it rises to around 111.650–111.750 and the upside momentum strengthens, there is a possibility of rising toward around 111.850–112.050.
● Scenario 2
If it breaks below the triangle, it will fall toward around 110.950–110.850, entering a range or pullback. A breakout below the range would push toward around 110.750–110.650. A breakout above the range or pullback would push toward around 111.150–111.050. After falling to around 110.750–110.650, it may again range or pull back around that area. If it breaks below the range, it could fall to around 110.550–110.450. If it breaks above the range or pulls back, it could rise toward around 111.000–110.900. If it falls to around 110.550–110.450 and the downside momentum strengthens, there is a possibility of falling toward around 110.350–110.150.
Image of the Uptrend Scenario
Image of the Downtrend Scenario
Today’s USD/JPY Forecast: Results of the USD/JPY price movement scenarios
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