Recap The bear flag mentioned last time worked out and dropped ninja down to Y-2 where the 98 boundary is. Closed the week below midpoint and below Y-1.
Outlook 2nd leg of the daily level pullback in progress. As long as ninja not giving us an all out breakdown with still play ninja cautiously on the downside.
This week more downside is expected with Y-3 being strong potential reversal zone. A quick flush below Y-2 and snap back up above B-1 on daily close basis will trigger a squeeze back up to at least Y-0.
Lawrence's Comment
Recap
Easy play of the week. Y-0 cleared, back to target swing high. Pull back to midpoint since. Closed the week above Y-0 and midpoint.
Outlook
No strong directional bias ...
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
As expected, Loonie consolidated within the tight range mentioned last week. By end of week, after support was found, this pair drifted back up to near Y+1 before stalling. ...
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 29 to Aug 02 Outlook
Lawrence’s Comment
The bear flag mentioned last time worked out and dropped ninja down to Y-2 where the 98 boundary is. Closed the week below midpoint and below Y-1.
Outlook
2nd leg of the daily level pullback in progress. As long as ninja not giving us an all out breakdown with still play ninja cautiously on the downside.
This week more downside is expected with Y-3 being strong potential reversal zone. A quick flush below Y-2 and snap back up above B-1 on daily close basis will trigger a squeeze back up to at least Y-0.
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