Price has broken below the sliding parallel of the sideways upward sloping action reaction set. Look to see price continue to fall to the 2400 area. Price has respected resistance at the 2450 area.
Price has broken down, hit resistance at the 2450 area, then is now showing support at the sliding parallel of the AR set. Look to see if 2450 will stay as resistance and we could see a drift further down to 2400.
Price has bounced off of resistance near 2448, and is now down to test the middle median line again. Look to see if price can hold as support here and go a bit higher. We tested near the 2432 area as predicted that we had mentioned before. I have drawn in a possible sliding parallel line here, as it may act as support.
Price is moving along the fork nicely still. We had a retest of the upper median line, and now price has bounced off of the middle median line. Look for price to drop maybe again to the 2432 level. If we make a new high, we could see a new upward fork possible.
Price has continued down, with a pause here. I still think price should continue to the 2400 area to show a test of support. Conside also the new channel, as price may touch the convergence of the lower trendline with the support line of 2400.
Price has started to show support on a triple touch of the 2420 area. Look to see if price can rise to 2433 and show resistance. If not, we may go to the next median line or 2448 before showing another resistance point.
Price has started to show a large candle here to the up side, we may have a pause here at the convergence of the blue warning line 1 and the support line at 2417.50. Look to see if price rises a little from here to the sliding parallel or 2440 area before hitting resistance again.
Price has hit the warning line 1 and is breaking down and flowing with the angle of the fork. Look to see if price can break 2463 hard and retest as resistance. Price may fall back into the fork, and then show another move back to the middle median line.
Price has risen off of the test of the upper median line, and retested warning line 1 on the blue fork as well as hit the warning line 1 on the pink and formed a possible double top formation as well around 2475. Look to see if this area holds as a possible resistance area here.
Price has hit warning line 1 and he has come down to retest the upper median line parallel. We have just made a V formation, so look to see if we wil continue down or hold here. Price has started to make lower lows and showing weakness, so lets see if price will stay under the 2477-2480 area.
Price has dropped and come up to retest the lower blue median line and is showing weakness. Look to see if price will stay below and continue to drop lower. If price does drop lower we could see the 2400 area again soon.
Price has come up to the pink upper median line and has hit resistance and is starting to drop. Look to see if price will continue down on the path of the fork.
Watchlist USDJPY : I am still looking for a price to retry the trendline by showing Bullish Price Action. And I'll look for a risk-ratio the best is to wait for a retest. If the retest then it can go up to the range (112.90) and this is the target swing. Regards
The drop on the GBP JPY was not random, despite being influenced by UK elections. The drop was precisely dropped by a long-term set of channel trend lines and the very sweet and consistent 68.5% retracement
Price came down a bit hit the sliding paralel a bit above 2417 and is trying to go higher again. If we break WL1, look for a possible move to WL2
Price is coming down a bit from the over shoot here. Look to see if price will drop further for another opportunity to find support.
A hidden frequency was found, which led me to draw the new pitchfork pointing upward. If you see, price had stopped exactly on the WL3, ond now is following this path of price upward. Look to see what price does when it hits the next median line.
Price has bounced quickly from the lower median line up to the 2400 area agai to try to retest the resistance here. Look to see what price does at this point, if it will continue on this median line or if it will hold resistance at 2400 area.