Recap Dropped lower to tag the downside target right off the start and snapped back up. FBO gave us a go for Y-0 and we got that. Perfect sell setup back down to week low and trapped since. closed the week at Y-1 and near week low.
Outlook Yen is the only currency gaining on US dollar out of the majors. It is forced to be the escape route, so to speak. If euro really takes a dive this week and drags cable with it, ninja will continue to be pressured lower, but not necessary much lower.
Down side triangle suggests B-2 in play as long as B-0 is not breached.
Lawrence's Comment
Recap
Bounced back to Y-0 early in the week. Y-0 stopped the bounce and gave us a drop down to new low below Y-1. Stopped going lower before touching downside ...
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
Unlike Dow or S&P, NQ was forced to breakout upside when both Dow and S&P both moving up strongly. It has been a long while since last ...
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 Feb 03 to Feb 07 Outlook
Lawrence’s Comment
Dropped lower to tag the downside target right off the start and snapped back up. FBO gave us a go for Y-0 and we got that. Perfect sell setup back down to week low and trapped since. closed the week at Y-1 and near week low.
Outlook
Yen is the only currency gaining on US dollar out of the majors. It is forced to be the escape route, so to speak. If euro really takes a dive this week and drags cable with it, ninja will continue to be pressured lower, but not necessary much lower.
Down side triangle suggests B-2 in play as long as B-0 is not breached.
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