USDJPY Feb 28 to Mar 04 Outlook
The interesting scenario mentioned last week has played out nicely and tagged the 1st target of Y-3 and also the 2nd target of Y-4. Closed at the low of the week. Notice how the range of previous week acted as the yardstick on every move throughout the week according to the rules of STOPD.
Y-5 is likely to be tagged in the beginning of the week as that is also the monthly low zone.
A close of the month above 82 implies a quick rally back up to B-0.
Closing below that, will point to congestion for some time and downside bias until B-1 acts as support.