DislikedHow will the news from Japan (Current Account) that's about to happen in 3Hours, affect u/j though?Ignored
if you shift to the tl viewpoint, and look at the tl channel getting respect from the last couple of weeks (you never know which fibo or trendline family member is gonna demand respect!), you'll see that the current consolidation is occurring as price action rests just about the upper rail (this is the tl channel defined by lows on may 2nd and may 9th). let the upper rail be located by the high on may 3rd, and you see how price is presently bouncing gently above it (so, that could be a second major breakout in the offing).
if you look above at tl echoes from apr 28th and 29th, you have to conclude that this thing has a lot of room to run to the upside (from the channel perspective)... i would say that after what happened earlier today with other major ccy's being devalued, that japan will feel as though it's okay to take the lid off --- when japan's "lid is off", look out above!