There's no change with USD JPY forecast from my last post. We are near a turnaround period and waiting for confirmation of MTD 7 high arrival. I draw two trend lines as possible resistance. Yesterday we touched the first TL resistance at 92.75. The second TL resistance is at around 93.2 (this is also upper bollinger band) if it rallies more. In any case, turnaround is near and I personally won't try to chase market by going long at this level. Bearish divergence is also noted at 4 hour and daily chart.
In the zoomed chart, I am looking for a confirmation of a daily candle close below the low of the signal day to confirm MTD 7 high arrival. The low of the current signal day is at 91.89. This confirmation signal is my way to identify a Delta point arrival as explained in my blog Delta Trading: May 19 - How to Trade Delta Point
