The previous forecast was fulfilled 100%:
as for the USD/JPY pair, 64% of the experts and almost all tools of technical analysis predicted that the break through the bottom of the triangle, which the pair had been drawing since late August, would be short-lived. So it happened - by Friday the pair reached the said 120.80 resistance and then went to the next peak at 121.45, thus transforming the triangle into a horizontal channel.
The forecast for the coming week.
the indicators point upward for USD/JPY. Surprisingly, 100% of the experts concur and reckon that the pair won't be able to fall below support at 120.50 but will bounce off it towars 122.00.
Roman Butko, NordFX
as for the USD/JPY pair, 64% of the experts and almost all tools of technical analysis predicted that the break through the bottom of the triangle, which the pair had been drawing since late August, would be short-lived. So it happened - by Friday the pair reached the said 120.80 resistance and then went to the next peak at 121.45, thus transforming the triangle into a horizontal channel.
The forecast for the coming week.
the indicators point upward for USD/JPY. Surprisingly, 100% of the experts concur and reckon that the pair won't be able to fall below support at 120.50 but will bounce off it towars 122.00.
Roman Butko, NordFX