Recap Upside breakout. Just like any normal breakout, it got the normal target of Y+3 and pullback since. Closed the week near Y+2 and above midpoint.
Outlook Election result is in and that the newly elected party has a mandate to print a lot more money (what an irony that the party is a conservative one). In short term it will further weaken yen and probably sending it to long term target 86-88 zone.
So, looking for long only until a weekly reversal happens.
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
Y-0 acted as resistance as expected and sent the pair to retest Y-1. Y-1 did not offer much support at all until 100% absolute range expansion is reached.
Outlook
1.6 ...
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
Failed to trade above the resistance I mentioned last week. Messy price action around Y-1 since. Capped within 50% previous week range. Closed the week below midpoint and above ...
Lawrence's Comment
Recap
Bad data affected this chart. Aussie pushed higher above Y+1 but failed to hold up at the end and dropped all the way back to Y+1. Closed the week ...
USDJPY Dec 17 to Dec 21 Outlook
Lawrence’s Comment
Upside breakout. Just like any normal breakout, it got the normal target of Y+3 and pullback since. Closed the week near Y+2 and above midpoint.
Outlook
Election result is in and that the newly elected party has a mandate to print a lot more money (what an irony that the party is a conservative one). In short term it will further weaken yen and probably sending it to long term target 86-88 zone.
So, looking for long only until a weekly reversal happens.
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