USDJPY May 20 to May 24 Outlook

By News Robot

Lawrence’s Comment

Recap
Consolidated above Y+1 as expected. Held the support mentioned last week. Rallied to new high by end of the week. Easy week indeed. Closed the week near week high and above Y+1.

Outlook
Tagging Y+2 to B+2 is expected early next week. There is not much resistance beyond B+2 so it is not a good idea to counter this up swing. Breaking below B-0 / Y+1 points to a pullback to B-2 area.

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