USDJPY Oct 21 to Oct 25 Outlook

By News Robot

Lawrence’s Comment

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.

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