bullish shark preceding the bearish 5-0. 161.8 of CD on the shark is the bottom line of the pink box. The line is also the 1.13 XA on 5-0. The pattern has only confirmed 0 X A. Looking for the movement within the pink box to trap euro bulls. Catching this B C D can yield 2k> pips. Updates provided along the way. Above 1.650 invalidates.
June 13th is futures contract expiration. I'm expecting some major volatility for Yen this month. SGDJPY must break 90.750 area to confirm a reversal. In the event of a reversal, I'm targeting 86.000 area.
Falling below the 97 key level could confirm a JPY reversal. Expecting the 2nd half of this month to get volatile. Yen futures contract date is the 13th. FED also will be starting QT, have to see if the banks are finally willing to buy bonds with cash high balance sheets.
The contrarian dollar bull could argue FED over shot the inflation target, and will now work on pulling inflation down. Breaking above 1.225 can see as high as 1.28, breaking below 1.18 could retest as low as 1.125.
