Recap Pullback started. Dropped close to 77. Not quite 76.5 support zone yet.
Outlook If USDJPY is doing a spike and ledge like the previous invention, then 76.5 would not hold and we should see complete retracement back to the point where intervention was initiated.
This week will be critical for us to tell if dollar yen is snapping out of its long term down trend.
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
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.
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ContentReviewEuro Not Ready To Move YetS&P Moment of TruthGold Pullback Window Almost OverBig Picture SummaryReviewEuro is stuck as expected thanks to Brexit and other mess they are dealing with.S&P managed ...
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 Nov 14 to Nov 18 Outlook
Lawrence’s Comment
Pullback started. Dropped close to 77. Not quite 76.5 support zone yet.
Outlook
If USDJPY is doing a spike and ledge like the previous invention, then 76.5 would not hold and we should see complete retracement back to the point where intervention was initiated.
This week will be critical for us to tell if dollar yen is snapping out of its long term down trend.
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