Expect heavy drop in the following pairs;
EUR/USD - Sell
GBPUSD - Sell
USDJPY - Buy
This are probabilities amid the fundamentals smoke in the US for the next days. Once the smoke is vacuumed expect rapid recovery for the US Dollar in correlation to these pairs.
If the DXY continue to drop to the 96.03 levels expect rapid rise of these pairs.
Since the US Index (DXY) has failed to break the V-shape at around 97.32 and the price has tried to break out of the 107.230 level for almost 3 weeks. I anticipate a fluid move in the USD/JPY pair for this week with the 80% probability of Long position towards 108.335 level.
I spotted this break out of the right shoulder triangle last 2 days ... I didn't trade this due some issues with the broker. This is looking good for a long term down trend . For a range trader this must be traded carefully the economies are not adding up.
Looking for the price to drop further to R104 level, then we're likely to see another rise given the channel projection. If price does rebound from this level I spot a good BUY opportunity for the month to close around R210 level. If price break the R104 level to the downside we're likely to see a drop as low as R80 with developing news.