Recap Tight range sideway market. Made new low by end of the week. Closed the week above Y-1.
Outlook As expected we got more weaknesses in ninja but there was no real breakdown either.
Normally, a flush to B-2 is expected. But this time, we have the all important 78 level in play. So a strong bounce off Y-1 / B-1 area points to a quick squeeze back up to B+2.
Lawrence's Comment
Recap
Upside breakout got Y+3 target quickly. Y+3 turned into support and sent this higher. Stop run took over and cleared 1.37. Closed the week above Y+5 and at week ...
Lawrence's Comment
Recap
Stopped right at the resistance zone mentioned last week. Sold off to Y-0 with very strong reaction to the price level, implying that Y-0 is strong support ...
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USDJPY Sep 03 to Sep 07 Outlook
Lawrence’s Comment
Tight range sideway market. Made new low by end of the week. Closed the week above Y-1.
Outlook
As expected we got more weaknesses in ninja but there was no real breakdown either.
Normally, a flush to B-2 is expected. But this time, we have the all important 78 level in play. So a strong bounce off Y-1 / B-1 area points to a quick squeeze back up to B+2.
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