USDJPY Feb 16 to Feb 20 Outlook

By News Robot

Lawrence’s Comment

Recap
As expected ninja zoomed higher and got the main upside target Y+2. Ninja stalled back down quickly right after. Closed the week below Y+1 and near week low.

Outlook
120 and above strong resistance. First retest with strong reaction there is expected. The main thing is whether BOJ can lock ninja within the golden range that they said ninja should be trading within, 118 to 120. Chart pattern suggests that ninja has resistance above Y+1 and more likely to move lower to challenge B-2 where the the sudden urge started.

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