Observing the news and Nikkei and several other things within Japan. It was bound to show weaken against the dollar. I believe that the USD/JPY pair is ver volatile and loves to form M's and W's ( So far this year it has been like that) If you see the chart it has tried breaking the major resistance level at 111.65 ish JPY 2 times and didn't go far. Additionally,...
The graph will follow the arrow in direction, once it hits the golden rectangle box it will go for a temporary sell and then back on track. The major res. & Support line you see is the one that will predict whether it will buy or sell. If it crosses that line then it buys for 10 pips and sells for 25 pips roughly.
PS NOt Advise. For personal use
it can be seen from the graph that the GBP/USD is oscillating between 2 strong resistance and support zone. Once it crosses the golden ratio rectangle it is bound to go up until another major resistance.
NOT TRADE or FINANCIAL ADVICE OR DIRECTION.
Just for my own record-keeping