USDJPY Week of Nov 15th to 19th Outlook

By Lawrence

Recap of last week

Tight range breakout on 4 hours. Fulfilled the 2x target of weekly range.

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From the chart, it is clear why the range expansion stopped at where it did. The move simply reflects USDJPY is not moving unpredictably so far.

Next week outlook

For the range expansion to the upside to be completed, the red zone must be taken out quickly and turns into a mini support area for the next quick move up to the green zone.

A spike top at red zone will send the price back down to yellow zone as a minimum.

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