Recap Rallied to Y+2 as expected after breakout of Y+1 and that it turns into support. Closed the week near Y+2 and week high.
Outlook Rising wedge on 4 hour is not that bullish. A slightly higher higher above B+1 with immediate reversal will give us Y+1 target to the down side.
Lawrence's Comment
Recap
Breakdown play started the week. Dropped down to near Y-3 before support is found. Consolidation since in a shortened holiday week. Closed the week below Y-1 and above midpoint.
...
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 20 to Jul 24 Outlook
Lawrence’s Comment
Rallied to Y+2 as expected after breakout of Y+1 and that it turns into support. Closed the week near Y+2 and week high.
Outlook
Rising wedge on 4 hour is not that bullish. A slightly higher higher above B+1 with immediate reversal will give us Y+1 target to the down side.
Share