Recap Bullish expectation is correct with Y-0 support pushing higher. 125 round number attracted selling and forced ninja back down. Closed the week below Y+1 and midpoint.
Outlook It is now clear than BOJ is determined to fight any attempt to push ninja above 125. Short term this means a cap above and wild swings back down below is possible but not necessary. Y-0 / B-1 strong support until proven otherwise.
Lawrence's Comment
Recap
NQ tried very down in the beginning of the week to hold onto Y+1 as support, yet Dow was so weak, it dragged NQ and ES along back down. ...
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
Bounced to Y-0. Held above Y-1. And jumped back up to almost Y+1 by end of week as expected.
Outlook
A short term bottom is likely in place. ...
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 10 to Aug 14 Outlook
Lawrence’s Comment
Bullish expectation is correct with Y-0 support pushing higher. 125 round number attracted selling and forced ninja back down. Closed the week below Y+1 and midpoint.
Outlook
It is now clear than BOJ is determined to fight any attempt to push ninja above 125. Short term this means a cap above and wild swings back down below is possible but not necessary. Y-0 / B-1 strong support until proven otherwise.
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