Recap Early part of the week was an attempt to hold the previous week low (Y-1) area. But we knew that the strong rejection at Y+1 implied the likely push towards Y-2. Target reached in mid-week. End of week shock created a squeeze on the late shorts but that is not enough to push thru previous week midpoint (Y-0).
Outlook Potential w. spring in place as the week low (B-1) was rejected with huge reaction. As long as week midpoint (B-0) acts as support, B+2 is in play. If B-0 failed to act as support, the 200% downside expansion target (Y-3) will be next downside target.
Lawrence's Comment
Recap
The gap down to below B-1 had cleared the weak bulls quickly. Turning the original expectation of a consolidation in the lower price level unncessary.
The immediate rally ...
Lawrence's Comment
Recap
Aussie struggled above Y-1 initially. Found strength from gold pop leading to a run back to crime scene. Did not even get to Y-0 and stalled. Retest of Y-1 ...
Lawrence's Comment
Recap
Consolidation play around Y-1 then wild swings due to news shocks later in the week. Closed the week below Y-0 and near week high.
Outlook
Cable anchored itself to ...
Lawrence's Comment
Recap
Dow coiled up on Monday led to attempt to clear Y+1 but failed. Y-0 not strong enough as support, gave way to more selling down below Y-1. Friday event ...
USDJPY Feb 07 to Feb 11 Outlook
Lawrence’s Comment
Early part of the week was an attempt to hold the previous week low (Y-1) area. But we knew that the strong rejection at Y+1 implied the likely push towards Y-2. Target reached in mid-week. End of week shock created a squeeze on the late shorts but that is not enough to push thru previous week midpoint (Y-0).
Outlook
Potential w. spring in place as the week low (B-1) was rejected with huge reaction. As long as week midpoint (B-0) acts as support, B+2 is in play.
If B-0 failed to act as support, the 200% downside expansion target (Y-3) will be next downside target.
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