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Analysis: On the Usd-Jpy, we have a downtrend in the long, medium term with a downtrend in formation in the short term daily and 4H chart characterized by down channels. Then, on the very short term we have a confirmed downtrend. Price range forecast for Usd-Jpy:
- Scenario1: following the situation on the Daily and 4H chart, we have a downtrend channel confirmed. This week can continue to favor Short positions; we have the current market price moving below the weekly pivot indicator and from the 1rst resistance of the monthly pivot indicator. And, mostly the indicators are turning long to short conditions. We can expect the market price to reach the range from 96.80 to 96.48
- Scenario2: if the market experiments some rebounds around the market price97.709, the market can move up following the uptrend channel formed since the first week of August 2013 on the 4H chart, whenever the market move over the 97.660 we can still have a uptrend allowing Long positions where price can reach the range from 100.20 to 10.74
- Scenario1: following the situation on the Daily and 4H chart, we have a downtrend channel confirmed. This week can continue to favor Short positions; we have the current market price moving below the weekly pivot indicator and from the 1rst resistance of the monthly pivot indicator. And, mostly the indicators are turning long to short conditions. We can expect the market price to reach the range from 96.80 to 96.48
- Scenario2: if the market experiments some rebounds around the market price97.709, the market can move up following the uptrend channel formed since the first week of August 2013 on the 4H chart, whenever the market move over the 97.660 we can still have a uptrend allowing Long positions where price can reach the range from 100.20 to 10.74
