Recap Higher low was made with a drift up until 100% absolute range reached. Closed the week near Y+1 and above midpoint.
Outlook Instead of forming a good bottom, ninja was forced back up by external factors including intervention by BOJ. This makes the Y-1 bottom dirty and a retest of that is likely if ninja cannot clear B+1 decisively this week.
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
NQ consolidated around Y+1 and broken out to the upside. Earnings sent NQ straight up to Y+4. Closed the week above Y+4 and near week high.
Outlook
Too much ...
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
Warned Y-0 is the line in the sand where European officials would defend. Happened like clockwork. Free ride up to almost Y+2. Closed the week above Y+1 and midpoint.
Outlook
Chart ...
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 Jul 28 to Aug 01 Outlook
Lawrence’s Comment
Higher low was made with a drift up until 100% absolute range reached. Closed the week near Y+1 and above midpoint.
Outlook
Instead of forming a good bottom, ninja was forced back up by external factors including intervention by BOJ. This makes the Y-1 bottom dirty and a retest of that is likely if ninja cannot clear B+1 decisively this week.
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