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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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