Recap As expected Y+1 was tagged. Y+1 resistance sent ninja back down to Y-0. 50% range bounded all the actions. Closed the week above Y-0 and midpoint.
Outlook No strong directional hint of any kind as ninja is stuck in this range for months now. On monthly basis though, this is just consolidation after the significant rally. Hence long side has an advantage here.
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
I thought the backfill back down to Y-1 was going to be choppy. Instead, we got this clean directional slide all the way down. Cleared Y-1 easily and then ...
USDJPY Oct 12 to Oct 16 Outlook
Lawrence’s Comment
As expected Y+1 was tagged. Y+1 resistance sent ninja back down to Y-0. 50% range bounded all the actions. Closed the week above Y-0 and midpoint.
Outlook
No strong directional hint of any kind as ninja is stuck in this range for months now. On monthly basis though, this is just consolidation after the significant rally. Hence long side has an advantage here.
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