JXY reaching 69.00 support level at 69.00, Yen buyer may start collect yen for short term pull back before JXY testing the next low.
JXY seems able to take a breath ahead next week.
Japanese Yen gains 200 Pips against Dollar USD after July 2023 FOMC meeting, however market see turning point at support 137.923. Indicating USD bull run is begin against JPY.
JXY JPY Index has been super bullish since few days but seem to lose its energy on 1 Hour time as it is getting rejection from Daily Resistance level with breakout of Rising wedge pattern with RSI Bearish Divergence.
Market expected to decline TP to 19% @73.02 may see stagnated incline before decline but ultimatly expect market to decline.
INCLINE: 1.00%
DECLINE: -0.57%
INCLINE: 1.79%
DECLINE: -1.43%
Bear market continuation, macd (N) Bullish right above 50/50 signal below ma, rsi bullish right above 50/50 signal below ma expect market to decline retest 3m-low form double bottom and bounce to the upside in near future weekly tp @ 76.66
CLIMBAGE:
P1:
Inline:1.51%
Decline-2.06%
P2:
Incline: 2.82%
Decline: 4.34%
Expecting market to follow the decline before the upmove but could very well decide to take that up move without decline wait for break.
Climbage Projections1:
INCLINE: 1.92%
DECLINE: (-2.26%)
...
setting up for a significant rise
Market finishing up ending of pullback era with one last bullish movement preparing for significant decline. Have to keep in mind USD/JPY atr range when trading usually goes way up there MACD shows bull market still just above 50/50
but under ma expect minor bullish patterns until drop is ready to be executed
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