Recap Consolidation actions around Y+1 most part of the week. Jawboning happened by Japanese officials but no impact on the price actions so far. Closed the week above Y-0 and below midpoint.
Outlook 4 hour / daily bull flag points to continuation to the upside likely. Spike low against B-1 above B-2 will signal at least a test of B-0 and that will in turn break the bull flag resistance.
Lawrence's Comment
Recap
Y+1 acted as resistance and sold off to target zone mentioned last week. Closed the week above midpoint.
Outlook
Y+1 and B+1 is now key price level to break thru ...
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Lawrence's Comment
Recap
Euro held support mentioned last week and rallied to normal Y+2 upside target. Strong reaction against Y+2 gave us a drop back down to Y+1. Closed the week below ...
Lawrence's Comment
Recap
Down channel resistance early in the week pressed price down to Y-0 and opened the door to Y-1. Y-1 tested mid week and held. Closed the week below Y-0 ...
USDJPY Nov 16 to Nov 20 Outlook
Lawrence’s Comment
Consolidation actions around Y+1 most part of the week. Jawboning happened by Japanese officials but no impact on the price actions so far. Closed the week above Y-0 and below midpoint.
Outlook
4 hour / daily bull flag points to continuation to the upside likely. Spike low against B-1 above B-2 will signal at least a test of B-0 and that will in turn break the bull flag resistance.
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