Recap Y-1 acted as support so no selloff. Once traded above Y+1, clean sail to pre-crisis level at Y+5 (notice how exact that was). Closed the week by doubling the range of the first 1/2 of the week.
Outlook Congestion between B-0 and B+1. Daytrading the pair is the preferred strategy over swing trades this week because of the wide range developed.
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
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
Total breakdown since the start of the week. Tagged 2X previous week range and bounced on exhaustion. Closed the week at midpoint.
Outlook
Looking for short term bottom early ...
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
USDJPY Apr 04 to Apr 08 Outlook
Lawrence’s Comment
Y-1 acted as support so no selloff. Once traded above Y+1, clean sail to pre-crisis level at Y+5 (notice how exact that was). Closed the week by doubling the range of the first 1/2 of the week.
Outlook
Congestion between B-0 and B+1. Daytrading the pair is the preferred strategy over swing trades this week because of the wide range developed.
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