USDJPY Jun 10 to Jun 14 Outlook

Recap
BOJ and Japanese government did not know what to do in the beginning of the week after its big corporations told them it is not a good idea to trash yen any further. That alone was enough to crash ninja back down to pre-breakout level down at Y-5. Later in the week Japanese government announced the use of their government pension funds to support their stock market which then helped induce bottom picking. Closed the week below midpoint and Y-3.

Outlook
Ninja is in a mess. Their government does not know what to do at this point and the yen related markets are all shocked. It will be erratic trading at best this week until traders sort out the consequence from all these intervention initiatives.

Consolidation around B-0 at 50% previous week range is the normal expectation after a shock as long as there is no new shocks coming from their government again.