The currency pair USDJPY seems to be leading the series of events by moving first. Last year the US Dollar lost substantial value against the Japanese Yen and all correlating currencies were affected. Lots of opportunities to milk the market.
This year started with similar drops. Each drop is also pre-ambled by what seems to be an algo stop hunt. See my previous idea on this subject. Not all of the drops have stop hunts but I may have overlooked a few because they are not always as obvious and they often cause the price to rally just after having dipped just under a .
Then a unexpected trend reversal on November 27 UTC . The following drop of December 1 UTC was within 6 hours reset to projected level up from where it dropped, only to rise higher to 112.8 and then 113.6. I expected 112.8 to be the maximum value for the price to climb back to but it surprised me with 113.6.
With this new information I came up with 4 possible outcomes;
1) The price continues to rally to hits resistance at 114 with a chance of breaking through to continue to rally to heaven.
2) The price continues to follow its underlying trend and hits support at 106.
3) The price continues to follow its underlying trend and increasing selling power pulls the trend down towards support at 103.
4) A price crash is caused due to increasing selling power. Buyers abandon only for the price to then snowball down and break all support levels up to 98.