Recap Currency war at its finest – ninja found resistance at previous week close and dropped itself down to Y-0. In turn words exchange at the central bank level broken Y-0 support and sent ninja back down below Y-1. Closed the week below Y-1 and near week low.
Outlook Another week of 500 pips week range registered. Daily level attempt to push higher failed with ninja falling back to longer term support again. If ninja can hold Y-2 and snap back above B-1 quickly, a run back up to B-0 will be in play.
Lawrence's Comment
Recap
Consolidation with not much activities.
Outlook
Looking for this pair to settle in this zone over the coming weeks to form a long term bottom. Bias towards long side on ...
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 08 to Feb 12 Outlook
Lawrence’s Comment
Currency war at its finest – ninja found resistance at previous week close and dropped itself down to Y-0. In turn words exchange at the central bank level broken Y-0 support and sent ninja back down below Y-1. Closed the week below Y-1 and near week low.
Outlook
Another week of 500 pips week range registered. Daily level attempt to push higher failed with ninja falling back to longer term support again. If ninja can hold Y-2 and snap back above B-1 quickly, a run back up to B-0 will be in play.
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