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Lawrence's Comment
Recap
Consolidation around previous week close. Found resistance from Y+1 / week mid later in the week. Closed the week above Y-0 and below midpoint.
Outlook
Potential spike and ledge in place. ...
USDJPY Jan 23 to Jan 27 Outlook
Lawrence’s Comment
Got the upside breakout we are looking for. Closed the week back down at midpoint above Y-0.
Outlook
Need Y-0 to act as support and rally above Y+1 again. Successfully rally from this zone points to minimum target of B+2.
Failure to hold above Y-0 points to further consolidation around Y-1 to Y+1.
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