Recap Mentioned last week looking for a top to form after upside target Y+2 is tagged. Got the rally and stopped when 100% absolute range expansion is reached. Closed the week near midpoint and above Y+1.
Outlook Strong reaction to the zone above Y+2 confirms resistance is right above Y+2. A top forming from Y+2 upto B+1 will drop the pair back down to B-1 area.
As mentioned last week, the short term target of 83 area is tagged so there is not a lot of fuel to go much higher for now. So coming few weeks will more likely be consolidation time.
Long term long (weekly and higher timeframes) from the bottom area should watch the 80-81 area closely in case dollar yen weaken and drop back down to that area which should not be breached if this rally is going to continue.
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
Bloomberg just revealed the allegation made by New York regulators against Deutsche Bank. http://www.bloomberg.com/news/2014-12-10/ny-regulator-said-to-probe-deutsche-bank-barclays-fx-algorithms.html?hootPostID=c3a0b99fe1cf5f2d282303c2f5580895 This is what you get when the bank created the bot in the first ...
Lawrence's Comment
Recap
Cleared my resistance zone. Landed at target Y+3. Good enough for me. Closed the week at Y+3 and near week high.
Outlook
Two possible scenarios. First, consolidation around or above B+1 ...
Lawrence's Comment
Recap
Like clock work, Aussie was the easiest play last week. Held Y-0 and move above Y+1 giving way to Y+2 my target. Then cleared Y+1 on a small pullback ...
Lawrence's Comment
Recap
Stronger than expected bounce led to tagging Y-0. But that was all we got. Closed the week near midpoint.
Outlook
Coiled up formation means breakout in the making. Focus ...
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 Mar 19 to Mar 23 Outlook
Lawrence’s Comment
Mentioned last week looking for a top to form after upside target Y+2 is tagged. Got the rally and stopped when 100% absolute range expansion is reached. Closed the week near midpoint and above Y+1.
Outlook
Strong reaction to the zone above Y+2 confirms resistance is right above Y+2. A top forming from Y+2 upto B+1 will drop the pair back down to B-1 area.
As mentioned last week, the short term target of 83 area is tagged so there is not a lot of fuel to go much higher for now. So coming few weeks will more likely be consolidation time.
Long term long (weekly and higher timeframes) from the bottom area should watch the 80-81 area closely in case dollar yen weaken and drop back down to that area which should not be breached if this rally is going to continue.
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