Recap Early in the week just continued to shoot higher and tagged Y+2 target. Failed to hold above Y+2 and collapsed back down below Y+1 and completed 100% absolute range expansion. Closed the week above Y-0.
Outlook Y-0 was never challenged. Hence we cannot tell if buyers would show up there. Since 100% absolute range expansion stopped the pullback so far, it is reasonable to expect B-1 to act as support for a retest of at least B-0 and likely B+1.
Lawrence's Comment
Recap
Similar to Dow, NQ collapsed to Y-1 early in the week and bounced right off. NQ, however, is so strong after Apple's announcement on its new products, ...
Lawrence's Comment
Recap
ES failed to clear Friday high and was forced back down to fill the open gap below. Gap filled and ES immediately push back up. Y-0 support gave ES ...
Lawrence's Comment
Recap
Feb close established above Y-0. Sold off after failing to hold above Feb close and tagged B-0 quickly. Y-0 acted as resistance pointing to a test of ...
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 Sep 24 to Sep 28 Outlook
Lawrence’s Comment
Early in the week just continued to shoot higher and tagged Y+2 target. Failed to hold above Y+2 and collapsed back down below Y+1 and completed 100% absolute range expansion. Closed the week above Y-0.
Outlook
Y-0 was never challenged. Hence we cannot tell if buyers would show up there. Since 100% absolute range expansion stopped the pullback so far, it is reasonable to expect B-1 to act as support for a retest of at least B-0 and likely B+1.
Share