Recap Ninja found support at previous week close and Y-0 in the beginning of the week. That gave us up drift bias for Y+1. Breakout above Y+1 and stayed above. Closed the week above Y+1 and near week high.
Outlook The news from Japanese government enforce the strength in ninja. Not a very bullish chart though as a rising wedge is developing. B+2 may stop this run and starts a stronger pullback.
Lawrence's Comment
Recap
Classic STOPD consolidation behaviour - rejected Y-1 and zoom back to Y+1. The more interesting thing happened was that the week closed above Y+1.
Outlook
The breakout is officially ...
Lawrence's Comment
Recap
Option expiration week locked Dow around Y+1 even though the mid week pop tried hard to force Dow to go much higher. Closed the week above midpoint and Y+1.
Outlook
Seasonal ...
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 Dec 30 to Jan 03 Outlook
Lawrence’s Comment
Ninja found support at previous week close and Y-0 in the beginning of the week. That gave us up drift bias for Y+1. Breakout above Y+1 and stayed above. Closed the week above Y+1 and near week high.
Outlook
The news from Japanese government enforce the strength in ninja. Not a very bullish chart though as a rising wedge is developing. B+2 may stop this run and starts a stronger pullback.
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