Recap Consolidation expectation was correct with ninja dropped back down near Y-1 at the support area mentioned last week. Bounce from support failed to clear Y-0 led to another drop to below Y-1. Closed the week above Y-1 and below midpoint.
Outlook B-0 / Y-0 resistance can lead to potential down channel over coming few weeks. Better bottom on 4 hours will give us a test of Y-0.
Lawrence's Comment
Recap
Y-0 support early in the week gave us an up drift ended with 3 pushes up breakdown. Y-0 failed to hold this up and a run down to Y-1 ...
Lawrence's Comment
Recap
Euro FBO against Y+1 in thin trading environment gave us a go for the selloff target Y-1. No pullback whatsoever, Y-1 tagged by the end of the week. Closed ...
For more information about this report please refer to the Market Bias Informant pageTrading day for Forex symbols start at around 5 pm ET depending on Daylight Saving Time schedule
Lawrence's Comment
Recap
Y+1 cleared invalidating the bearish bias. Y+2 tagged quickly right after. Measured target from 4 weeks ago reached by the end of the week. Closed the week above Y+2 ...
USDJPY Aug 11 to Aug 15 Outlook
Lawrence’s Comment
Consolidation expectation was correct with ninja dropped back down near Y-1 at the support area mentioned last week. Bounce from support failed to clear Y-0 led to another drop to below Y-1. Closed the week above Y-1 and below midpoint.
Outlook
B-0 / Y-0 resistance can lead to potential down channel over coming few weeks. Better bottom on 4 hours will give us a test of Y-0.
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