Recap Ninja tried to hold previous week close early in the week. It even spiked higher but failed to stay above Y+1. FBO led to a drop to Y-0 and below. Found support and bounced. Closed the week above Y-0 and near midpoint.
Outlook FBO against Y+1 points to potential drop to Y-1 all the way. For the weekly to bottom out, B-1 support is now important. If B-1 acts as support, Ninja will get another chance to retest B+1.
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
Y-0 support started a squeeze as expected. Y+1 and Y+2 targets tagged easily. Closed the week above Y+2 and near week high.
Outlook
Consolidation play until NFP Friday. Shorten ...
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
Consolidation week as expected. Flushed to Y-1 and bounced. Failed to hold above Y-0 gave us another chance for the retest. Flushed to close the open gap and bounced. ...
USDJPY May 11 to May 15 Outlook
Lawrence’s Comment
Ninja tried to hold previous week close early in the week. It even spiked higher but failed to stay above Y+1. FBO led to a drop to Y-0 and below. Found support and bounced. Closed the week above Y-0 and near midpoint.
Outlook
FBO against Y+1 points to potential drop to Y-1 all the way. For the weekly to bottom out, B-1 support is now important. If B-1 acts as support, Ninja will get another chance to retest B+1.
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