finitemonk

USDJPY - EVEN SIMPLER IS BETTER

FX:USDJPY   U.S. Dollar/Japanese Yen
59 0 0
Following a very understandable and valid comment to my just published chart.

I'm trying the method of interpreting gaps over 'too many lines'.

I think perhaps I like this better as a simple grid of opposing forces / influences.

These were my notes (slightly edited):

The downward Schiff - I like the way the pair made it on crash recovery
from A to B, one 0.75 retracement to its opposite. The imperfect balance & symmetry of nature.

One can notice the bullish gaps where the points of return upward are raised above the line levels.

Looking back at point B where the pair over a 52 hour period, attempted, hesitated and finally failed. Then look at what happened last night on the downward suction of a minor but sharp drop in the Nikkei. It didn't make it to the 0.75 retracement line, and so we have a clear bearish gap. I read this as very significant.

I heard yesterday on the wires of a bullish break out. I think the bearish gap quite probably said no.

Looking at what I think may be a substantial dropping of the pair early part of next week, (especially if there are closures of large long positions, maybe even running into close today). This would be helped by a further collapse of the Nikkei.
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