Recap Dropped lower to tag the downside target right off the start and snapped back up. FBO gave us a go for Y-0 and we got that. Perfect sell setup back down to week low and trapped since. closed the week at Y-1 and near week low.
Outlook Yen is the only currency gaining on US dollar out of the majors. It is forced to be the escape route, so to speak. If euro really takes a dive this week and drags cable with it, ninja will continue to be pressured lower, but not necessary much lower.
Down side triangle suggests B-2 in play as long as B-0 is not breached.
Lawrence's Comment
Recap
Short bias from last week played out well until Y-2 was tagged and that the huge gap from beginning of March was rejected. ES zoomed back up from below ...
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
USDJPY Feb 03 to Feb 07 Outlook
Lawrence’s Comment
Dropped lower to tag the downside target right off the start and snapped back up. FBO gave us a go for Y-0 and we got that. Perfect sell setup back down to week low and trapped since. closed the week at Y-1 and near week low.
Outlook
Yen is the only currency gaining on US dollar out of the majors. It is forced to be the escape route, so to speak. If euro really takes a dive this week and drags cable with it, ninja will continue to be pressured lower, but not necessary much lower.
Down side triangle suggests B-2 in play as long as B-0 is not breached.
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