Recap Ninja failed to hold its weekly support and led to liquidation driven breakdown move. The former 108 magic level stopped the drop. Closed the week below Y-4 and near week low.
Outlook Momentum too strong not to produce a lower low. A snap back above B-1 points to at least short term exhaustion to the down side. A pullback to B-0 is normal.
Lawrence's Comment
Recap
Another week of consolidation as expected. Bear flag in beginning of the week drove the price down to Y-1 for a retest. W. spring formed and sent it back ...
Lawrence's Comment
Recap
Break out upside happened but that gave us B+2 only as the news shock was immediately reversed several hours later by flip flop from the euro zone officials. ...
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
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 Apr 11 to Apr 15 Outlook
Lawrence’s Comment
Ninja failed to hold its weekly support and led to liquidation driven breakdown move. The former 108 magic level stopped the drop. Closed the week below Y-4 and near week low.
Outlook
Momentum too strong not to produce a lower low. A snap back above B-1 points to at least short term exhaustion to the down side. A pullback to B-0 is normal.
Share