Looking at the USD/JPY weekly periodicity we can observe that the market left us with an inside week on Friday's close. Therefore we can observe a reaction around its high or low area, especially for absorption patterns. Additionally, we can see the current test of the lower balance area's extremes which has a supportive effect for now.
Moving forward to the daily perspective we can observe a balance area and an inside day close on Friday. Again, we can lean us on the high/low extremes to observe absorption patterns and to speculate towards an inside day failure pattern. We this information we could then conclude a trading scenario. Let's see how the market will evolve towards the U.S. open.
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