Recap As expected, ninja retested Y-1. Yet, it failed to hold above Y+1 as support, leading to retest of Y-0 / previous week close. Consolidated since. Closed the week below midpoint and near Y-0.
Outlook The bullish setup from the week before last was wasted on this consolidation. Cannot complain as war was looming and that directly affect USD strength across multiple majors.
Longer term on swing basis still bullish but a drop to B-2 is possible once B-1 is breached. Need ninja to pop back above B-0 to get a confirmed continuation to the upside.
Lawrence's Comment
Recap
Another eventful week with interventions. Y-1 acted as support sent ninja back to Y-0. Intervention (or "more explanation") did the job and cleared Y-0 resistance. Ninja stalled at the ...
Lawrence's Comment
Recap
Consolidated around previous week close for 2 days and then took off. After new high above Y+1 pullback to previous week close. Closed the week above Y+1 and midpoint.
Outlook
1.08 ...
Lawrence's Comment
Recap
Unfolded exactly as mentioned last week. Consolidation within the prescribed range. A breakout of Y+1 leads to doubling the week's range.
Outlook
As long as B-0 acts as support, Y+2 ...
USDJPY Sep 16 to Sep 20 Outlook
Lawrence’s Comment
As expected, ninja retested Y-1. Yet, it failed to hold above Y+1 as support, leading to retest of Y-0 / previous week close. Consolidated since. Closed the week below midpoint and near Y-0.
Outlook
The bullish setup from the week before last was wasted on this consolidation. Cannot complain as war was looming and that directly affect USD strength across multiple majors.
Longer term on swing basis still bullish but a drop to B-2 is possible once B-1 is breached. Need ninja to pop back above B-0 to get a confirmed continuation to the upside.
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