USDJPY has a potential to turn around and go down during next few daily sessions.
The point is that on a daily timeframe the pair is about to finish an enormous corrective structure which is known as a flat.
The question at the moment is whether the price touches the May high and comes down OR goes slightly beyond the high and then crumbles down.
Fractology also advises paying close attention to EURJPY and GBPJPY which are forming terminal patterns and should soon come down too.
(Here is the link for our GBPJPY analysis - https://www.fractology.biz/single-post/2017/07/07/Expect-a-turn-on-GBPJPY)
Even if our analysis is wrong and the pair will not turn around, the whole move up should correct itself down.
The point is that on a daily timeframe the pair is about to finish an enormous corrective structure which is known as a flat.
The question at the moment is whether the price touches the May high and comes down OR goes slightly beyond the high and then crumbles down.
Fractology also advises paying close attention to EURJPY and GBPJPY which are forming terminal patterns and should soon come down too.
(Here is the link for our GBPJPY analysis - https://www.fractology.biz/single-post/2017/07/07/Expect-a-turn-on-GBPJPY)
Even if our analysis is wrong and the pair will not turn around, the whole move up should correct itself down.