Recap Congested for 2 days, then went higher until 50% absolute range expansion is reached. Then congested there for the rest of the week.
Outlook The big rally was caused by intervention that messed up the normal dynamics of the pair. As the momentum has stalled, the pair will likely drift back down to test the top of the first leg in this rally. A break of B-0 and that having it as a resistance implies B-2 and B-3 are in play. B-3 is the top of the intervention spike high.
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
NQ bottomed early in the week with Dow and ES but it was not one of the stronger bottoming pattern. Y-0 cleared and then it was a struggle to ...
USDJPY Apr 11 to Apr 15 Outlook
Lawrence’s Comment
Congested for 2 days, then went higher until 50% absolute range expansion is reached. Then congested there for the rest of the week.
Outlook
The big rally was caused by intervention that messed up the normal dynamics of the pair. As the momentum has stalled, the pair will likely drift back down to test the top of the first leg in this rally.
A break of B-0 and that having it as a resistance implies B-2 and B-3 are in play. B-3 is the top of the intervention spike high.
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