Recap Consolidation above Y-0 as expected. Originally looked like a breakout to the upside was in the making, until news shock hit late in the week. Got the 200% expansion of the tight range. Closed the week at the low.
Outlook Short term bullish scenario invalidated. Will be very difficult to trade this week as everyone is aware of the Y-1 / B-2 support area.
As long as B-0 acts as resistance, slight bias towards lower price.
Lawrence's Comment
Recap
The moment Y-1 failed to support euro, I posted in our real-time chat that it is heading for 1.30. We got that 2 days later. euro did ...
Lawrence's Comment
Recap
Was looking for signs of weekly up trend to be defended and we got it last week. Y-1 / previous week close acted as support and sent ninja back ...
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 Jun 18 to Jun 22 Outlook
Lawrence’s Comment
Consolidation above Y-0 as expected. Originally looked like a breakout to the upside was in the making, until news shock hit late in the week. Got the 200% expansion of the tight range. Closed the week at the low.
Outlook
Short term bullish scenario invalidated. Will be very difficult to trade this week as everyone is aware of the Y-1 / B-2 support area.
As long as B-0 acts as resistance, slight bias towards lower price.
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