Fundamentally the USD is bullish to the Yen with the Fed's Restrictive Monetary Policy.
Technically we can see price move in 3 phases
1. Accumulation = the big players set their positions.
2. Manipulation = just a stop hunting exercise
3. Distribution = where a trend is established .
The market has been in consolidation for the last 15 days. The longer the consolidation (with more positions accumulated) , the greater the
energy built into the market which can drive a subsequent trend.
So now we need a Manipulation.
= If the pair is to head higher with trend , there needs to be a false breakout to the down side.
The prior swing had a movement down of 200 pips.
As such , waiting till price retests 133 may be beneficial.
Then waiting for 135 to break up would confirm a potential new swing up.
Technically we can see price move in 3 phases
1. Accumulation = the big players set their positions.
2. Manipulation = just a stop hunting exercise
3. Distribution = where a trend is established .
The market has been in consolidation for the last 15 days. The longer the consolidation (with more positions accumulated) , the greater the
energy built into the market which can drive a subsequent trend.
So now we need a Manipulation.
= If the pair is to head higher with trend , there needs to be a false breakout to the down side.
The prior swing had a movement down of 200 pips.
As such , waiting till price retests 133 may be beneficial.
Then waiting for 135 to break up would confirm a potential new swing up.