Recap As expected Y-0 area becomes the platform for a run towards Y+2. Paused there for a quick test of Y+1 and then another pop higher. Closed the week near Y+2.
Outlook As noted last week a short term bottom should be in place for ninja. The problem going forward however is that the chart is getting uglier every week. What I mean is that the moves are more sudden and then grind in tight ranged moves.
Hopefully normal volatility will come back to this pair soon once the political issues there quiet down.
Coming week, a break of B-0 points to retest of B-1.
As long as B-0 acts as support, looking for higher prices.
Lawrence's Comment
Recap
Euro formed an up channel and drifted higher all week to near Y+1. Channel breakdown led to flush back down to near Y-1. Closed the week below Y-0 and ...
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
NQ started the week above Y+1 invalidated its down trend, making Y-0 strong support. NQ then failed to hold above Y+1 and flushed down to support. NQ held the ...
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
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 Oct 08 to Oct 12 Outlook
Lawrence’s Comment
As expected Y-0 area becomes the platform for a run towards Y+2. Paused there for a quick test of Y+1 and then another pop higher. Closed the week near Y+2.
Outlook
As noted last week a short term bottom should be in place for ninja. The problem going forward however is that the chart is getting uglier every week. What I mean is that the moves are more sudden and then grind in tight ranged moves.
Hopefully normal volatility will come back to this pair soon once the political issues there quiet down.
Coming week, a break of B-0 points to retest of B-1.
As long as B-0 acts as support, looking for higher prices.
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