Recap Ninja held support, no follow-thru to the downside as expected. A spike back up to Y+1 failed to hold, gave us a drop to Y-0 and eventually Y-1. Closed the week near Y-1 and below B-0.
Outlook The Y-1 / B-1 zone has been the support for months. Every time it is challenged, something magical happened to reverse the course. Maybe intervention, maybe not.
As long as B-0 acting as resistance, B-2 and below in play.
Lawrence's Comment
Recap
No surpirse at all - pulled back to Y-0. Found support and then push back up to test Y+1. Did not clear it and stalled. Closed the week near ...
Lawrence's Comment
Recap
1320 upside target tagged first thing in the week. Struggling at 1320, eventually fall back down to Y+1. The test confirmed its strength and that put Y+2 ...
Lawrence's Comment
Recap
Unlike euro that has ECB defending the price level in the beginning of the week, cable was falling normally as expected back down to Y-1. Then the ...
Lawrence's Comment
Recap
Bullish bias for Y+1 retest turns into continuation run up to Y+2. 100% abolute range expansion stopped the run. Closed the week near Y+1 and below midpoint.
Outlook
The ...
Lawrence's Comment
Recap
Got the expected selloff to Y-1 early in the week. Instead of staying below Y-1, Cable immediately fended off the selling by forming a 1-2-3 buy there. The FBO ...
USDJPY May 19 to May 23 Outlook
Lawrence’s Comment
Ninja held support, no follow-thru to the downside as expected. A spike back up to Y+1 failed to hold, gave us a drop to Y-0 and eventually Y-1. Closed the week near Y-1 and below B-0.
Outlook
The Y-1 / B-1 zone has been the support for months. Every time it is challenged, something magical happened to reverse the course. Maybe intervention, maybe not.
As long as B-0 acting as resistance, B-2 and below in play.
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