USDJPY Jun 27 to Jul 01 Outlook

By News Robot

Lawrence’s Comment

Recap
Y-1 support earlier in the week led to stop run back up to Y+1. Brexit spike reversal gave us the Y-3 breakout target. Closed the week near Y-2 and below midpoint.

Outlook
US dollar is gaining strength against all other majors except Yen. This is classic panic mode behaviour. What the short term moves do has nothing to do with longer term outlook, for which Japan is heading for the same doomed destiny like EU. Ninja w. spring above Y-1 will set the stage for a run to B+1 and above.

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