This week's outlook
This week’s market movements seem to have reflected and moved in line with corporate earnings reports.
By midweek, the landing point of the monthly chart appears to be around a little above 150 yen as a take-profit level, but since the daily chart seems likely to hit around 149.050 first, movements around 148.800 to around 150 yen are possible. If it breaks downward, the downward trend will continue, and it will likely head toward 146.500.
That’s how I described it. The USD/JPY went up to about 150.290. From the points worth watching, it could not exceed 100 pips, but if taking profit slightly above 150 yen would have been good, so I left the target for USD/JPY as a note.
This week as well, let’s clearly identify the places we should watch for every pair.
This week, on the daily chart, I think around 149.270 remains. When the market opens, the values for the weekly and daily anticipated levels will change, but
first, above, up to around 149.600, and below, down to around 149.270, should start moving from roughly those levels.
If it breaks downward, it could go to around 148.980.
If it moves upward, first up to around 149.900. That upper level is around 150.210.
If it surpasses 150.300, it seems likely to aim for the monthly chart value of 150.780.
The USD/JPY still seems more likely to move upward, so we should also prepare for a decline down to the daily cloud around 148.400.
With the 503 method, the places to look are clear, and if you target them, 100 pips can always move, giving a high probability of taking profits.
Well then,
these are the currency pairs from the 503 method for this week.
NZDJPY AUDJPY CADJPY USDJPY EURJPY CHFJPY GBPJPY | 〇 〇 △ △ 〇 〇 〇 | AUDCHF CADCHF AUDUSD NZDUSD AUDCAD AUDNZD | 〇 △ 〇 △ × 〇 | EURGBP EURCHF EURUSD EURCAD EURAUD EURNZD | 〇 × 〇 × △ 〇 | GBPCHF GBPCAD GBPAUD GBPUSD GBPNZD USDCHF USDCAD | 〇 × 〇 △ 〇 〇 × |