Recap Consolidated around Y+1 and then breakout upside failed. That gave us the Y-0 retest. Y-0 tagged eventually. Closed the week above Y-0 and below midpoint.
Outlook Still bullish on daily but bearish in lower timeframes.
If Y-0 / B-1 fails to support ninja, we will get a breakdown drop to B-2 quickly. Even holding the support area, ninja still has to prove itself by clearing Y+1 swiftly in order to move higher. Measured move target points to B+2 and above.
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
Lawrence's Comment
Recap
Retest of Y+1 / 1.66 round number level confirmed its resistance status. That opened the door to Y-0 and below. Closed the week below Y-0 and near week low.
Outlook
Y-0 ...
Lawrence's Comment
Recap
Similar jawboning and again 1.35 defended in an ugly fashion. Surprise jump higher squeezed euro above Y-0 by the end of the week. Closed the week above Y-0 and ...
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 ...
USDJPY Oct 21 to Oct 25 Outlook
Lawrence’s Comment
Consolidated around Y+1 and then breakout upside failed. That gave us the Y-0 retest. Y-0 tagged eventually. Closed the week above Y-0 and below midpoint.
Outlook
Still bullish on daily but bearish in lower timeframes.
If Y-0 / B-1 fails to support ninja, we will get a breakdown drop to B-2 quickly. Even holding the support area, ninja still has to prove itself by clearing Y+1 swiftly in order to move higher. Measured move target points to B+2 and above.
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