USDJPY Week of Dec 13th to Dec 17th Outlook

By Lawrence

Recap of last week

Made a new low against the low of the week before, and tested 50% of previous month exactly. The quick run up stopped at 100% relative expansion based on the range of the week prior.

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Next week outlook

As monthly price zone entered the scene, we know a significant move is in the making. Previous month high will be tested (yellow zone). If it is taken out quickly, a rally towards 50% expansion of initiation period of this quarter is expected (green zone). A failed test at yellow zone will force the pair to drop back down to previous week low (red zone).

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