Recap Instead of testing Y-1 first, ninja opted for test of Y-0 zone resistance first. That forced a drop in ninja back down to Y-1 later in the week. Closed the week above Y-1 and below midpoint.
Outlook Inside week with weak close points to proper retest of Y-1 / B-1 is necessary. Reaction there will tell us what’s next.
In rare scenarios, should ninja surges higher above B+1 without a retest of Y-1 / B-1 support, as long as B+1 acts as support, a run to B+3 is likely.
Lawrence's Comment
Recap
As expected the rising wedge did not last. It was broken to the down side and the selloff almost tagged my downside target. Euro bounced before the target was ...
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
More upside as projected. Sideway actions around Y+1 is normal after wide range reversal week. Closed the week above Y+1 and midpoint.
Outlook
As long as Y+1 / B-0 ...
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 Jul 21 to Jul 25 Outlook
Lawrence’s Comment
Instead of testing Y-1 first, ninja opted for test of Y-0 zone resistance first. That forced a drop in ninja back down to Y-1 later in the week. Closed the week above Y-1 and below midpoint.
Outlook
Inside week with weak close points to proper retest of Y-1 / B-1 is necessary. Reaction there will tell us what’s next.
In rare scenarios, should ninja surges higher above B+1 without a retest of Y-1 / B-1 support, as long as B+1 acts as support, a run to B+3 is likely.
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