Recap Y-0 did not act as support, so no fuel to go higher. Consolidation week closing below Y-0 and midpoint.
Outlook 3rd week of compression in place. Breakout of this range will be explosive. As long as Y-0 / B-0 acting as resistance, the bear flag can lead to a violent flush to Y-1 / B-2 as the first breakout attempt.
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
Channel support breached gave us Y-1 as expected. Wild up swing testing the channel support from below failed to clear the resistance and sent Aussie down to Y-1 again. ...
USDJPY Aug 13 to Aug 17 Outlook
Lawrence’s Comment
Y-0 did not act as support, so no fuel to go higher. Consolidation week closing below Y-0 and midpoint.
Outlook
3rd week of compression in place. Breakout of this range will be explosive. As long as Y-0 / B-0 acting as resistance, the bear flag can lead to a violent flush to Y-1 / B-2 as the first breakout attempt.
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