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USDJPY Feb 08 to Feb 12 Outlook
Lawrence’s Comment
Currency war at its finest – ninja found resistance at previous week close and dropped itself down to Y-0. In turn words exchange at the central bank level broken Y-0 support and sent ninja back down below Y-1. Closed the week below Y-1 and near week low.
Outlook
Another week of 500 pips week range registered. Daily level attempt to push higher failed with ninja falling back to longer term support again. If ninja can hold Y-2 and snap back above B-1 quickly, a run back up to B-0 will be in play.
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