Recap A pretty perfect week. Y-0 acted as support early in the week sending dollar yen to Y+1, which acted as resistance. Y-0 failed to act on 2nd time as support, we got Y-1 by end of week. Nice swings all the way.
Outlook A flush is needed to give us a good bottom on weekly. B-1 downto B-2 is close to the long term support area as well. Will see if a flush to B-2 early in the coming week can produce a bottom.
Rally above B-0 will get us an excuse to rally to B+2.
Lawrence's Comment
Recap
What I said last week played out - "At best a 20 points pullback is all bears can hope for right now". ES consolidated around Y+1 during this option ...
Lawrence's Comment
Recap
1-2-3 sell from Y+1 gave us Y-0. Y-0 support sent NQ back up to Y+1 and breakout to Y+2. Closed the week near Y+2 and week high.
Outlook
Uptrend ...
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
Lawrence's Comment
Recap
Consolidation actions around previous week close. Equal distance from previous week close established. Closed the week above Y-1 and midpoint.
Outlook
3 Pushes Down target Y-0. 3 Pushes Down ...
USDJPY Apr 30 to May 04 Outlook
Lawrence’s Comment
A pretty perfect week. Y-0 acted as support early in the week sending dollar yen to Y+1, which acted as resistance. Y-0 failed to act on 2nd time as support, we got Y-1 by end of week. Nice swings all the way.
Outlook
A flush is needed to give us a good bottom on weekly. B-1 downto B-2 is close to the long term support area as well. Will see if a flush to B-2 early in the coming week can produce a bottom.
Rally above B-0 will get us an excuse to rally to B+2.
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