Recap More news feeding out from Japan government and BOJ sent ninja to the long term resistance upper zone of 88. Closed the week above Y+2 and near week high.
Outlook Strong up trend developed on weekly. Several support points created along the way up. Should weaknesses develop, a pullback to Y+1 is very likely.
The next down side support is B-2. Until B-0 turning into resistance, it is out of the question for now.
Lawrence's Comment
Recap
2nd consolidation week. Tighter range too. Closed the week above Y-0 and below midpoint.
Outlook
Directionless. Breakout mode in place. This time I have no directional bias.
Very dangerous setup - once ...
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
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 Jan 07 to Jan 11 Outlook
Lawrence’s Comment
More news feeding out from Japan government and BOJ sent ninja to the long term resistance upper zone of 88. Closed the week above Y+2 and near week high.
Outlook
Strong up trend developed on weekly. Several support points created along the way up. Should weaknesses develop, a pullback to Y+1 is very likely.
The next down side support is B-2. Until B-0 turning into resistance, it is out of the question for now.
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