Recap Early in the week just continued to shoot higher and tagged Y+2 target. Failed to hold above Y+2 and collapsed back down below Y+1 and completed 100% absolute range expansion. Closed the week above Y-0.
Outlook Y-0 was never challenged. Hence we cannot tell if buyers would show up there. Since 100% absolute range expansion stopped the pullback so far, it is reasonable to expect B-1 to act as support for a retest of at least B-0 and likely B+1.
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
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
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
Y-1 failed to act as resistance giving us FBO against Y-1 and opened the door to Y+1. Y+1 cleared and Y+3 reversal breakout target tagged. Closed the week above ...
USDJPY Sep 24 to Sep 28 Outlook
Lawrence’s Comment
Early in the week just continued to shoot higher and tagged Y+2 target. Failed to hold above Y+2 and collapsed back down below Y+1 and completed 100% absolute range expansion. Closed the week above Y-0.
Outlook
Y-0 was never challenged. Hence we cannot tell if buyers would show up there. Since 100% absolute range expansion stopped the pullback so far, it is reasonable to expect B-1 to act as support for a retest of at least B-0 and likely B+1.
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