Recap Down channel resistance breached right from the beginning of the week. Gave us an up drift consolidation week. 50% range capped the upside. Closed the week above Y-0 and near midpoint.
Outlook Inside week closing between Y-0 and midpoint implies indecision. Breakout play down to B-2 or up to B+2 in the making.
Lawrence's Comment
Recap
Quick steep pullback in the beginning of the week. Then pre-Brexit weekly close acted as support and led to test of Y+1. 2nd attempt at Y+1 cleared the resistance ...
USDJPY Aug 18 to Aug 22 Outlook
Lawrence’s Comment
Down channel resistance breached right from the beginning of the week. Gave us an up drift consolidation week. 50% range capped the upside. Closed the week above Y-0 and near midpoint.
Outlook
Inside week closing between Y-0 and midpoint implies indecision. Breakout play down to B-2 or up to B+2 in the making.
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