Recap Weekly buying showed up at Y-1. Y+1 tagged but the buying was not strong enough to keep ninja above that. Closed the week below Y+1 and above midpoint.
Outlook Outside week. Y-0 and midpoint near each other. Failed to close above Y+1 indicates there is not enough fuel to go either way. Retest of B-0 likely.
One more move breaking B-0 will easily lead to a test of B-1.
Lawrence's Comment
Recap
Downside bias worked out with Y-2 tagged mid week. Bounced off Y-2 and failed to clear Y-1. Closed the week at week low and Y-2.
Outlook
US dollar has strengthen to ...
USDJPY Feb 24 to Feb 28 Outlook
Lawrence’s Comment
Weekly buying showed up at Y-1. Y+1 tagged but the buying was not strong enough to keep ninja above that. Closed the week below Y+1 and above midpoint.
Outlook
Outside week. Y-0 and midpoint near each other. Failed to close above Y+1 indicates there is not enough fuel to go either way. Retest of B-0 likely.
One more move breaking B-0 will easily lead to a test of B-1.
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