USDJPY May 02 to May 06 Outlook

By News Robot

Lawrence’s Comment

Recap
Y+1 resistance with BoJ announcement killed the upside immediately. News shock target of Y-1 cleared with Y-2 almost tagged. Closed the week near Y-2 and week low.

Outlook
Reactionary bounce points to a test of at least Y-1 and potentially B-0. We cannot be sure if Ninja can hold B-1 though as momentum points to the historical lower support at 104 is now in play.

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