Recap Consolidation as expected. Tight range around previous week close until US NFP came out. Y+2 normal upside target tagged. Closed the week above Y+1 and midpoint.
Outlook Daily ledge upside push points to more upside is likely. Momentum on daily depends heavily on stop run at this point. As long as B-1 acting as support, up trend intact on daily.
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Lawrence's Comment
Recap
As expected, a rally above Y-0 led to tagging of Y+1. That, however, failed to hold above Y-0 as support for any further upside. Closed the week below ...
USDJPY Jun 08 to Jun 12 Outlook
Lawrence’s Comment
Consolidation as expected. Tight range around previous week close until US NFP came out. Y+2 normal upside target tagged. Closed the week above Y+1 and midpoint.
Outlook
Daily ledge upside push points to more upside is likely. Momentum on daily depends heavily on stop run at this point. As long as B-1 acting as support, up trend intact on daily.
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