Recap A pullback was expected and ninja dropped to Y-0 and below support area. Then its inability to clear Y-0 triggered a go for Y-1. Y-1 tagged and failed to push higher since. Closed the week below Y-1 and near week low.
Outlook Pullback turning into a run down to Y-1 was a nice bonus. From here ninja can choose to hold the zone between Y-2 to B-1 and resume its weekly match higher. What we need is proper bottom setup on 4 hours before jumping onto the long side.
Tagging Y-2 is likely as long as Y-1 is not cleared.
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
Ninja rising wedge into 110 before breaking the support which points at the target of below Y-1. Y-1 reached and 1.08 right below promptly defended it with an all ...
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
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
USDJPY Oct 13 to Oct 17 Outlook
Lawrence’s Comment
A pullback was expected and ninja dropped to Y-0 and below support area. Then its inability to clear Y-0 triggered a go for Y-1. Y-1 tagged and failed to push higher since. Closed the week below Y-1 and near week low.
Outlook
Pullback turning into a run down to Y-1 was a nice bonus. From here ninja can choose to hold the zone between Y-2 to B-1 and resume its weekly match higher. What we need is proper bottom setup on 4 hours before jumping onto the long side.
Tagging Y-2 is likely as long as Y-1 is not cleared.
Share