Recap Ninja was so strong, it pushed to 122 first in the beginning of the week setting up Y+1 as the consolidation midpoint. Closed the week near Y+1 and midpoint.
Outlook A strong up trend is established with clear support line in place. Breaking below 121 decisively points to Y-0 and B-2 in play. This is normal reaction to the push higher on weekly and monthly, not the marking of a top.
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
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
Aussie driven lower in the beginning of the week down to Y-1. Found support there can zoomed to Y+2. 2nd attempt at clearing Y+2 failed and led to a ...
USDJPY Mar 16 to Mar 20 Outlook
Lawrence’s Comment
Ninja was so strong, it pushed to 122 first in the beginning of the week setting up Y+1 as the consolidation midpoint. Closed the week near Y+1 and midpoint.
Outlook
A strong up trend is established with clear support line in place. Breaking below 121 decisively points to Y-0 and B-2 in play. This is normal reaction to the push higher on weekly and monthly, not the marking of a top.
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