Recap Consolidation expectation was correct with ninja dropped back down near Y-1 at the support area mentioned last week. Bounce from support failed to clear Y-0 led to another drop to below Y-1. Closed the week above Y-1 and below midpoint.
Outlook B-0 / Y-0 resistance can lead to potential down channel over coming few weeks. Better bottom on 4 hours will give us a test of Y-0.
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Lawrence's Comment
Recap
Similar to Dow, ES pushed the envelope all the way. It exceeded Dow in terms of volatility during the holiday season. Closed the week near week high ...
USDJPY Aug 11 to Aug 15 Outlook
Lawrence’s Comment
Consolidation expectation was correct with ninja dropped back down near Y-1 at the support area mentioned last week. Bounce from support failed to clear Y-0 led to another drop to below Y-1. Closed the week above Y-1 and below midpoint.
Outlook
B-0 / Y-0 resistance can lead to potential down channel over coming few weeks. Better bottom on 4 hours will give us a test of Y-0.
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