CapMoore

Some Bullish Signs May Signal End of Consolidation

FX:USDJPY   U.S. Dollar/Japanese Yen
189 0 2
A Kumobreak along with a Kumotwist may release PA from
the consolidation. A double Pitchfork has inscribed PA nicely
and the lower median is currently supporting. After the false close
above Monthly R1 price hasn't reached Monthly PP but instead bounced
off the Kijun Sen (White equilibrium line). A close above
the Weekly PP at 119,15 may signal further gains and a test
of previous high and test of the upper band of lower Pitchfork
that previously held resistance. On the downside the Kijun and
Monthly PP along with the Median line (red) of the Pitchfork
draws a clear line in the sand. Unltimately, a close below the
Kumocloud may be the start of a deeper correction, probably
targeting the Yearly PP, which is yet untested. A return back
into the upper Pitchfork will give new fuel to the rally.
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