today that markets are closed i thought i could share my outlook on USDJPY for the upcoming week: as you can see on the chart price has recently broke to the downside the previous , this means price is telling us it wants to go lower. Of course we shouldn't chase price, instead we should wait for it to come in our comfortable zones, like previous support that could turn into resistance.
While coming there, price could form a simple consolidation pattern (like a flag, traingle or ). A break to the downside of that pattern would mean a continuation to the downside, where we have actually a lot of space.
I'll update soon.
If you want to ask questions or share your view, go ahead and comment below.
Otherwise, see you in the next chart!