Tight range breakout on 4 hours. Fulfilled the 2x target of weekly range.
From the chart, it is clear why the range expansion stopped at where it did. The move simply reflects USDJPY is not moving unpredictably so far.
Next week outlook
For the range expansion to the upside to be completed, the red zone must be taken out quickly and turns into a mini support area for the next quick move up to the green zone.
A spike top at red zone will send the price back down to yellow zone as a minimum.
Lawrence's Comment
Recap
Y+1 / previous week close acted as support and sent this higher until 100% absolute range expansion. Reaction to Y+2 dropped this back down to below Y-1.
Outlook
Daily ...
Lawrence's Comment
Recap
S&P followed the path of Dow instead of what its price pattern suggested. Clear signs that shorts are squeezed and forced to give up. Closed the week above Y+1 ...
Lawrence's Comment
Recap
Opened below my support requirement thus invalidated the bullish potential. First try going higher cannot even tag Y-0. Dropped hard but news shock and rumors started to take over ...
Lawrence's Comment
Recap
Reduced range drifting. Closed above Y+1 and midpoint.
Outlook
As mentioned last week, a potential long term bottom in the making. The up drift last week is giving this pair more ...
USDJPY Week of Nov 15th to 19th Outlook
Recap of last week
Tight range breakout on 4 hours. Fulfilled the 2x target of weekly range.
From the chart, it is clear why the range expansion stopped at where it did. The move simply reflects USDJPY is not moving unpredictably so far.
Next week outlook
For the range expansion to the upside to be completed, the red zone must be taken out quickly and turns into a mini support area for the next quick move up to the green zone.
A spike top at red zone will send the price back down to yellow zone as a minimum.
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