USDJPY Apr 27 to May 01 Outlook
Y-1 tested and held up. Ninja was then sent back up to Y-0 and round number at 120. 120 sellers show up and pressed ninja back down. Closed the week below Y-0 and midpoint.
Overall still a consolidation week, just a bit more than 50% week range due to the 120 magnet. No declared winner on either side as bears could not break Y-1 while bulls cannot keep ninja above midpoint.
Retest of Y-1 / B-1 likely. That holds we get a serious rally back to at least Y-0 again.