Out of 7 USDJPY forecasts compiled in the beginning of the year, 6 appear to be wrong. It is 11 months too early to tell but does not bode well. Price takes the path of least resistance – JPY charts suggest this ‘least resistance’ path is down.
JPY bulls got wash n rinsed as a early week rally ran stop losses of shorts orders in JPY crosses printing bearish setups. By Wednesday, JPY crosses turn into rout.
Shinmin Daily (新明日报) asked my prediction for SGDJPY. In the article, you see the levels. Here we use Tflow® to understand how I arrived at these levels.