Recap As explained in details last week, there is very limited downside potential and ninja is likely to push higher. Ninja consolidated around Y+1 and breakout to the upside and tagged the normal breakout target of Y+3. Closed the week above Y+2 and midpoint.
Outlook Breakout on weekly. 120 potential support for more upside on weekly basis. Next week, however, is more likely to consolidate around B-0.
Lawrence's Comment
Recap
Last week's warning that once Y-0 failed to act as support, Dow has no support until 12500. There it was. Sold off to 12500 and took off. ...
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
Held Y-1 in the beginning of the week and drifted higher to Y-0. Found resistance and trashed down to my downside target Y-2. Went sideway since. Closed the week ...
USDJPY Mar 09 to Mar 13 Outlook
Lawrence’s Comment
As explained in details last week, there is very limited downside potential and ninja is likely to push higher. Ninja consolidated around Y+1 and breakout to the upside and tagged the normal breakout target of Y+3. Closed the week above Y+2 and midpoint.
Outlook
Breakout on weekly. 120 potential support for more upside on weekly basis. Next week, however, is more likely to consolidate around B-0.
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