Recap As explained in details last week, there is very limited downside potential and ninja is likely to push higher. Ninja consolidated around Y+1 and breakout to the upside and tagged the normal breakout target of Y+3. Closed the week above Y+2 and midpoint.
Outlook Breakout on weekly. 120 potential support for more upside on weekly basis. Next week, however, is more likely to consolidate around B-0.
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Lawrence's Comment
Recap
Consolidation around the yearly breakout level. Closed the week below Y-0 and near week low.
Outlook
Inside week points to breakout mode. Longer term support at 1.28 and slightly ...
Lawrence's Comment
Recap
Popped back up to Y+1 as expected. Closed above Y-0 and near midpoint.
Outlook
Long term bottom in place so this is part of the long term process of building ...
USDJPY Mar 09 to Mar 13 Outlook
Lawrence’s Comment
As explained in details last week, there is very limited downside potential and ninja is likely to push higher. Ninja consolidated around Y+1 and breakout to the upside and tagged the normal breakout target of Y+3. Closed the week above Y+2 and midpoint.
Outlook
Breakout on weekly. 120 potential support for more upside on weekly basis. Next week, however, is more likely to consolidate around B-0.
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