Recap A pretty perfect week. Y-0 acted as support early in the week sending dollar yen to Y+1, which acted as resistance. Y-0 failed to act on 2nd time as support, we got Y-1 by end of week. Nice swings all the way.
Outlook A flush is needed to give us a good bottom on weekly. B-1 downto B-2 is close to the long term support area as well. Will see if a flush to B-2 early in the coming week can produce a bottom.
Rally above B-0 will get us an excuse to rally to B+2.
ContentReviewEuro Consolidation Can Last For MonthsS&P Two Opposite Scenarios EmergedGold Not Ready for Next Move YetBig Picture SummaryReviewEuro weaken as expected.S&P multiple week pullback in progress as expected.Gold pullback as ...
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USDJPY Apr 30 to May 04 Outlook
Lawrence’s Comment
A pretty perfect week. Y-0 acted as support early in the week sending dollar yen to Y+1, which acted as resistance. Y-0 failed to act on 2nd time as support, we got Y-1 by end of week. Nice swings all the way.
Outlook
A flush is needed to give us a good bottom on weekly. B-1 downto B-2 is close to the long term support area as well. Will see if a flush to B-2 early in the coming week can produce a bottom.
Rally above B-0 will get us an excuse to rally to B+2.
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