This is my take on USD/JPY The Signals I show here, like the Bread and Butter (also called "The Single Penetration) are defined and can be expected and traded when you know what to look for!
Fundameltally I expect stocks to rise a bit this week(UK deal relief and other reasons) and this will help to play out the Scenario I show here. In fact I will go so far and claim that the only way for USD/JPY to make a sustained move below the low at 111 is a war starting this week!!
Further please visit my Twitter and check the post I pinned there on 2nd February about stocks and Yen!! (Yen was at 120.5 that day). Although I admit I only rode it down to 115, and then lost some money by beting against a further fall there... Here is a link to the post: twitter.com/xSheltemx/status/694661865553686528
Below I will post a chart from my Platform where you can see that the Daily and Monthly OB/OS are really there where I show them!!
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Here my Platform charts with the real Overbought and Oversold from the Oscillator Predictor.