Recap Resistance zone mentioned last week capped initial push higher early in the week. Flushed below Y-1 without tagging Y-2 staged the slingshot move expected. Closed the week above Y+1 and near week high.
Outlook Y+2 and Y+3 are still in play. B-0 / Y-0 now strong support.
Lawrence's Comment
Recap
Sideway consolidation around previous week close until Mrs. Yellen comment time. Collapsed lower until 100% of consolidation range. Closed the week near Y-1 and week low.
Outlook
Inside week ...
USDJPY Jan 25 to Jan 29 Outlook
Lawrence’s Comment
Resistance zone mentioned last week capped initial push higher early in the week. Flushed below Y-1 without tagging Y-2 staged the slingshot move expected. Closed the week above Y+1 and near week high.
Outlook
Y+2 and Y+3 are still in play. B-0 / Y-0 now strong support.
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