Recap As expected ninja consolidation within Y-0 and Y+1 first. Once Y-0 was breached, we get a go for Y-1. Y-1 tagged and breached by a flush. Closed the week below Y-1 and midpoint.
Outlook 2nd leg on daily pullback in progress. As long as Y-0 to B-0 acting as resistance more downside is expected.
Lawrence's Comment
Recap
Retest of Y+1 first, then stalled and failed to hold above Y-0. Flushed to the natural target of Y-1 and closed at the low of the week.
Outlook
The slow ...
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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
USDJPY Jan 27 to Jan 31 Outlook
Lawrence’s Comment
As expected ninja consolidation within Y-0 and Y+1 first. Once Y-0 was breached, we get a go for Y-1. Y-1 tagged and breached by a flush. Closed the week below Y-1 and midpoint.
Outlook
2nd leg on daily pullback in progress. As long as Y-0 to B-0 acting as resistance more downside is expected.
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