Recap Consolidated around B+1 as expected. The breakout to the upside points to 100% range expansion. Closed the week at the high and not enough time to get to the upside target.
Outlook Tagging Y+3 likely in the beginning of the week.
Weaknesses at that area points to a pullback back to B-0.
As mentioned many times here, was looking for a long term bottom for this pair and the breaking of 80 area confirmed that. Low 90s is the long term target.
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
Got the breakout I was looking for. Breaking to the downside gave us the normal Y-2 target in 1 go. Retest of Y-1 was nasty as it ...
Lawrence's Comment
Recap
FBO on weekly confirmed. Continuation sell off waited until the very last moment to tag Y-2 target. Closed the week below Y-1 and midpoint.
Outlook
Y-1 / B-0 strong ...
Lawrence's Comment
Recap
Took a week to form the bottom and finally rallied back above 1.0.
Outlook
Tough battle for US dollar here.
To form a good bottom from here, US dollar ...
Lawrence's Comment
Recap
NQ struggled in the beginning of the week to stay above Y+1 yet failed to hold above it suggesting Y-0 was in play. By the end of the week, ...
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
USDJPY Feb 27 to Mar 02 Outlook
Lawrence’s Comment
Consolidated around B+1 as expected. The breakout to the upside points to 100% range expansion. Closed the week at the high and not enough time to get to the upside target.
Outlook
Tagging Y+3 likely in the beginning of the week.
Weaknesses at that area points to a pullback back to B-0.
As mentioned many times here, was looking for a long term bottom for this pair and the breaking of 80 area confirmed that. Low 90s is the long term target.
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