USDJPY markup for week of 2/10/19
Price stayed very confined to the boundaries of the wedge that is forming all week last week hugging the lower trend line most of the time. I am expecting a fake bullish breakout to occur, causing buyers to pile in and price to continue up. Im not confident that price will completely break 110.00 and close above it on the hourly... A more controlled reach into turtle soup area stopping at 110 with a large wick reaching up into lambo zone looks more practical to me. This theory coincides with my previous mark up of DXY being bullish in the beginning of the week before turning to a long term bearish trend Tuesday night or Wednesday at some point.
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