USDJPY Feb 03 to Feb 07 Outlook

By News Robot

Lawrence’s Comment

Recap
Dropped lower to tag the downside target right off the start and snapped back up. FBO gave us a go for Y-0 and we got that. Perfect sell setup back down to week low and trapped since. closed the week at Y-1 and near week low.

Outlook
Yen is the only currency gaining on US dollar out of the majors. It is forced to be the escape route, so to speak. If euro really takes a dive this week and drags cable with it, ninja will continue to be pressured lower, but not necessary much lower.

Down side triangle suggests B-2 in play as long as B-0 is not breached.

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