As you can see from the above picture USDJPY is at its highest Price Now. The Question is, will it break from this pattern ? Which i don't think so. The reasons is below.
The reason i am using the indicator above is to get notified what is the hottest things traders are currently trading. It has stop notified me to buy push on this pair. Meaning, its getting less demand on this pair.
Law of Market Dynamic, Trending (Uptrend or Downtrend) end in Balance (Sideway movement).
According to Michael J. Parson, who is pioneering in Geometry Trading, Double ZigZag identified at the above chart. The centre of the zigzag lies the balance point for the uptrend. If we divided it into half, that is almost the height this pair can reach. Which again supporting my reasoning that technically USDJPY has almost reach its peak.
Clearly, USDJPY is currently at balancing stage.I would forecast that it will go up to 109.50 before slumping down if it bypass the balance channel, or it may not reach that height and slump down. Another question to ponder is how long will this pair in the balance stage? That is my conclusions on this pair forecast unless something interrupted this pattern.
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