USDJPY Sep 29 to Oct 03 Outlook

By News Robot

Lawrence’s Comment

Recap
Consolidation around previous week close. Y-0 acted as support. Closed the week above Y-0 and midpoint.

Outlook
Consolidation instead of pullback from blowoff action is bullish. This points to potential short squeeze into B+2 and above. Longer term targets for ninja has always been 1.08 and then 1.12. I thought ninja needs to pause at 1.08-1.09 originally. I am not so sure anymore as retail committed positions are still too bearish on ninja.

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