Expected Scenarios for the Yen Index

The Yen Index is still moving in a general upward trend on the daily timeframe.

This is due to strong consolidation on the same timeframe.

Currently, the index is moving in a sideways direction on the hourly timeframe.

So far, the movement indicates reconsolidation.

This means we may see a continued rise in the Yen Index.

This also means a rise for most Yen pairs.

If the recent resistance areas are broken on the hourly timeframe 

and a close above them is reached, we are expected to see a rise

 to the targets set at 71.90 and 72.10, respectively.

Of course, if the demand areas on the same timeframe are broken,

and the uptrend is broken and a close below them is reached,

 we are expected to see some corrections for the Yen Index 

and consequently, a decline for most pairs.