The 40-year seasonal tendency (1978-2017) for the Japanese Yen Futures signals that the futures tend to show strength on the first week of May and they get weaker on the second week until the next month (1st week of June). In fact, during the first week of May, USD/JPY weakened. When the pair entered the second week, the price went upwards. Based on this information, we predict that USD/JPY is poised to go down to fill the Liquidity Void (106.79-106.55) and reach 106.53 as the nearest Liquidity Pool. However, this scenario will be canceled on the following two conditions:
1. USD/JPY will move upwards and break out above 107.29.
2. All the targets are not hit until the next week (May 18, 2020).
(Disclaimer).
