Recap Started the week testing Y-0 from below and failed to push higher. That gave us a drop to Y-1. FBO at Y-1 sent ninja higher. Found resistance at the top of the resistance zone mentioned last week by NFP report. Sold off back down to week low. Closed the week near Y-1 and below midpoint.
Outlook 2nd rejection of above 105. Clear signs of weaknesses. As long as B-0 / Y-0 acting as resistance, more downside is expected.
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
Lawrence's Comment
Recap
Avoided Euro last week and the sudden wild intraday swings last week prove the point. Closed the week below Y-0 and above midpoint.
Outlook
Y-0 / B+1 strong resistance ...
Lawrence's Comment
Recap
3 Pushes early in the week resulted in a snap back down to below Y+1 and triggered the FBO against Y+1. Tagged Y-0 by end of the week. Weak ...
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 Jan 13 to Jan 17 Outlook
Lawrence’s Comment
Started the week testing Y-0 from below and failed to push higher. That gave us a drop to Y-1. FBO at Y-1 sent ninja higher. Found resistance at the top of the resistance zone mentioned last week by NFP report. Sold off back down to week low. Closed the week near Y-1 and below midpoint.
Outlook
2nd rejection of above 105. Clear signs of weaknesses. As long as B-0 / Y-0 acting as resistance, more downside is expected.
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