Recap Y-0 did not act as support, so no fuel to go higher. Consolidation week closing below Y-0 and midpoint.
Outlook 3rd week of compression in place. Breakout of this range will be explosive. As long as Y-0 / B-0 acting as resistance, the bear flag can lead to a violent flush to Y-1 / B-2 as the first breakout attempt.
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 ...
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
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 Aug 13 to Aug 17 Outlook
Lawrence’s Comment
Y-0 did not act as support, so no fuel to go higher. Consolidation week closing below Y-0 and midpoint.
Outlook
3rd week of compression in place. Breakout of this range will be explosive. As long as Y-0 / B-0 acting as resistance, the bear flag can lead to a violent flush to Y-1 / B-2 as the first breakout attempt.
Share