Next Week would be much violent for any currency pair from both Trump's Inauguration day and Important US Economic data in focus :)
Without Important Economic Data from Japan implys most of the price movement in USD/JPY is driven by U.S. Dollar Index.. Thus, this brings us to big opportunities especially USD/JPY pair
Analysis
Abrupt Increase in price level to 116.157 is expected before or at January 17th (Monday-Tuesday)
This presents us first opportunity to short with great risk-reward ratio in short-term.
After that, price should be dropping down to form Bullish Three Drives at 112.400-112.700 with 78.6% Retracement and 127.2% Extension Channel. This should take around 3-4 days expected before Trump's Inauguration day
At Inauguration day, Psychologically bias-thinking that USD would be strengthen to welcome positive momentum in stock market, Corresponding with Target Price of Bullish Three Drive at around 117.465
Without Important Economic Data from Japan implys most of the price movement in USD/JPY is driven by U.S. Dollar Index.. Thus, this brings us to big opportunities especially USD/JPY pair
Analysis
Abrupt Increase in price level to 116.157 is expected before or at January 17th (Monday-Tuesday)
This presents us first opportunity to short with great risk-reward ratio in short-term.
After that, price should be dropping down to form Bullish Three Drives at 112.400-112.700 with 78.6% Retracement and 127.2% Extension Channel. This should take around 3-4 days expected before Trump's Inauguration day
At Inauguration day, Psychologically bias-thinking that USD would be strengthen to welcome positive momentum in stock market, Corresponding with Target Price of Bullish Three Drive at around 117.465