1-2-3 buy off the previous low (the yellow zone) made a good run but failed to take out the previous week high, resulting in a quick snap back to the low of the week again. Classic 2-way test of the previous extremes as mentioned in STOPD.
Next week outlook
Both the weekly and monthly project has projected 50% downside expansion to the 79.50 area (red zone). This area is also the long term support area that has not been touched for many years. How USDJPY reacts at this zone will be critical.
Recap
Tried to stage a rally off Y-0 but failed as it formed a 3 pushes, giving experienced traders time to exit their longs and went short. Target area Y-1 ...
Lawrence's Comment
Recap
Cable failed to move higher and made a new low. FOMC announcement took it back up and stop run printed a new high for the week but there was ...
Lawrence's Comment
Recap
Got the sell setup mentioned last week and NQ did a 200% range expansion of previous week range. Closed the week below Y-1 and midpoint.
Outlook
NQ long term sell setup ...
USDJPY Week of Nov 1 – 5 Outlook
Recap of past week
1-2-3 buy off the previous low (the yellow zone) made a good run but failed to take out the previous week high, resulting in a quick snap back to the low of the week again. Classic 2-way test of the previous extremes as mentioned in STOPD.
Next week outlook
Both the weekly and monthly project has projected 50% downside expansion to the 79.50 area (red zone). This area is also the long term support area that has not been touched for many years. How USDJPY reacts at this zone will be critical.
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