Recap Bottom of the boundary on weekly tested and rejected. Door opened to challenge Y+1 since and was tested near end of the week. Closed the week above Y-0 and midpoint.
Outlook Still trapped within the same range, no directional play until we get clear signs which way this pair wants to go. Hands off until we get a strong move on daily out of this pair.
Lawrence's Comment
Recap
17000 round number support sparked a strong rally back up to 17700. Reactions to FOMC decision the day after were opposite to what most people expected. Beautiful drop back ...
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USDJPY Sep 28 to Oct 02 Outlook
Lawrence’s Comment
Bottom of the boundary on weekly tested and rejected. Door opened to challenge Y+1 since and was tested near end of the week. Closed the week above Y-0 and midpoint.
Outlook
Still trapped within the same range, no directional play until we get clear signs which way this pair wants to go. Hands off until we get a strong move on daily out of this pair.
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