Recap As expected BOJ did its part and ninja got pushed down to almost Y-2. On pure price action basis, the FBO reaction to Y+1 gave us Y-0 and then Y-1. The violent reactions below Y-1 was obviously stop run. Closed the week at Y-1 and below midpoint.
Outlook It looks like the start of a weekly level pullback. As long as ninja is trading around the prescribed bottom of the range at 98 this should be treated as a consolidation.
Lawrence's Comment
Recap
Minimal down side target tagged mid week and euro went full breakdown from there. Euro could not stop at all and dropped straight down to Y-4. Closed the week ...
Lawrence's Comment
Recap
Strong reaction to Y-1 as expected. Bounced all the way back to Y-0 and more. 1.61 breakdown level retested and stopped the run. First test led to a drop ...
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
Sold off as expected. Target Y-3 tagged. Easy weekly move completed. Closed the week near Y-2 and midpoint.
Outlook
Gaps above B+1 and below B-1 are in play once ...
USDJPY Jul 15 to Jul 19 Outlook
Lawrence’s Comment
As expected BOJ did its part and ninja got pushed down to almost Y-2. On pure price action basis, the FBO reaction to Y+1 gave us Y-0 and then Y-1. The violent reactions below Y-1 was obviously stop run. Closed the week at Y-1 and below midpoint.
Outlook
It looks like the start of a weekly level pullback. As long as ninja is trading around the prescribed bottom of the range at 98 this should be treated as a consolidation.
Share