Recap Weekly buying showed up at Y-1. Y+1 tagged but the buying was not strong enough to keep ninja above that. Closed the week below Y+1 and above midpoint.
Outlook Outside week. Y-0 and midpoint near each other. Failed to close above Y+1 indicates there is not enough fuel to go either way. Retest of B-0 likely.
One more move breaking B-0 will easily lead to a test of B-1.
Lawrence's Comment
Recap
As expected, ninja started weak and failed to clear even Y-1. That opened the door to Y-3. Flushed down to Y-3 and bounced. Closed the week below Y-1 and ...
Lawrence's Comment
Recap
As oppose to retest Y+1, Loonie did a 1-2-3 sell off Y-0 right from the start of the week. That points to at least a retest of ...
USDJPY Feb 24 to Feb 28 Outlook
Lawrence’s Comment
Weekly buying showed up at Y-1. Y+1 tagged but the buying was not strong enough to keep ninja above that. Closed the week below Y+1 and above midpoint.
Outlook
Outside week. Y-0 and midpoint near each other. Failed to close above Y+1 indicates there is not enough fuel to go either way. Retest of B-0 likely.
One more move breaking B-0 will easily lead to a test of B-1.
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