Recap Sideway quite start for the week. Looking for a stronger pullback and we got that after New Year. Selloff ended at 100% absolute range expansion. Closed the week above Y-0 and midpoint.
Outlook As long as Y+1 to B-0 acting as resistance, more downside is expected. B-2 is the first target for next leg lower.
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USDJPY Jan 06 to Jan 10 Outlook
Lawrence’s Comment
Sideway quite start for the week. Looking for a stronger pullback and we got that after New Year. Selloff ended at 100% absolute range expansion. Closed the week above Y-0 and midpoint.
Outlook
As long as Y+1 to B-0 acting as resistance, more downside is expected. B-2 is the first target for next leg lower.
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