USD/JPY - Report for weekend

 

On Monday it reached at the 114.50 level area and then on Wednesday increased up to 116.50.

There isside exchange fluctuations within the 114.50 - 116.60 area.
Recommencement of side exchange fluctuations within the 114.40-116.60 region can be expected. But its chances are bad. Last week the lower fluctuations limit fell to 114.40. But there wasn’t less than 114.00 limit decline. The upward trend up to 116.60 says about high probability of overcoming of this limit as well. These side exchange fluctuations limits overcoming will lead to the next two development(20%).

There is a downward trend to the 113.40-114.00 area.
The course decline can continue in case of fixing below 114.50. In that case the nearest decline target of the 113.40-114.00 region will easily be reached during the week. After that the correcting rebound can arise again (40%).

 

Most likely it will continue to rise - after such a nice triple bottom and on an absolute low there is high chance of bullish continuation.

Reason: