Recap As expected the test of Y+1 has failed. Minimal target at Y-0 was tagged. But the pullback was very slow. Closed the week above Y-0 and below midpoint.
Outlook Similar to other majors, the anticipation of war has crippled normal trading activities. Should the situation in Ukraine get worse, the flight to safety action will be triggered, implying a sudden boost of strength in US dollar across the board. That gives speculative traders an excuse to keep buying US dollar and euro.
Chart pattern suggests that once ninja can trade above B-0, it will be able to clear B+1 easily with B+2 target.
Lawrence's Comment
Recap
Retest of pre-breakout level as expected when Euro failed to hold above Y-0. Closed the week below Y-0 and midpoint.
Outlook
Tight range week waiting for news to find ...
Lawrence's Comment
Recap
Y-0 did not act as resistance at all. All out intervention last week to clear the resistance zone induced the biggest 5 days up swing over the past few ...
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
Dow tried to hold support all week but failed to clear Y+1 resistance. Friday breakdown move flushed to Y-3 directly. Closed the week near Y-3 and week low.
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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 Apr 28 to May 02 Outlook
Lawrence’s Comment
As expected the test of Y+1 has failed. Minimal target at Y-0 was tagged. But the pullback was very slow. Closed the week above Y-0 and below midpoint.
Outlook
Similar to other majors, the anticipation of war has crippled normal trading activities. Should the situation in Ukraine get worse, the flight to safety action will be triggered, implying a sudden boost of strength in US dollar across the board. That gives speculative traders an excuse to keep buying US dollar and euro.
Chart pattern suggests that once ninja can trade above B-0, it will be able to clear B+1 easily with B+2 target.
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