TechnoMeter

USD/JPY W1

"Last week’s reversal materialized from the neckline of that pattern. This week’s follow through has resulted in a test of the 55 week average. The 2015 high was right at the 1990-1998 line (log scale), so a broader topping formation is still possible." The price is ranging around Central Yearly Pivot at 120.63 waiting for the following direction and targets:

• R1 Pivot level at 125.41 for the bullish scenario, or
• S1 Pivot level at 115.41 for the bearish scenario.

Instrument	S1 Pivot	Yearly PP	R1 Pivot
USD/JPY	115.41	120.63	125.41

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