Recap Retest of Y+1 first, then stalled and failed to hold above Y-0. Flushed to the natural target of Y-1 and closed at the low of the week.
Outlook The slow steady drift up is over. Although Y-1 was not breached, the pair needs more time to consolidate before it will find a direction. The past week is an inside week, as long as B-1 and Y-1 acts as support, B-0 and B+1 are in play.
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USDJPY May 30 to Jun 03 Outlook
Lawrence’s Comment
Retest of Y+1 first, then stalled and failed to hold above Y-0. Flushed to the natural target of Y-1 and closed at the low of the week.
Outlook
The slow steady drift up is over. Although Y-1 was not breached, the pair needs more time to consolidate before it will find a direction. The past week is an inside week, as long as B-1 and Y-1 acts as support, B-0 and B+1 are in play.
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