Recap Previous week close acted as support and in turn making Y-0 into support. Pushed to Y+1 target and collapsed back down since. Y-1 strong support as mentioned last week has put a stop to the drop. Closed the week below Y-0 and midpoint.
Outlook Outside week yet close near both midpoints. Potential 3 pushes up on 4 hours points to a pullback down to B-2 provided that Y+1 acting as resistance.
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
Sold off straight down to Y-2 target opened the door to Y-3. Stair step action going down until 100% absolute range was reached. Closed the week below Y-2 and ...
Lawrence's Comment
Recap
Popped higher totest0.77 as expected. Clean break of Y-1 led to a drop to Y-3 normal range expansion target. Closed the week below Y-2 and near week low.
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USDJPY Aug 17 to Aug 21 Outlook
Lawrence’s Comment
Previous week close acted as support and in turn making Y-0 into support. Pushed to Y+1 target and collapsed back down since. Y-1 strong support as mentioned last week has put a stop to the drop. Closed the week below Y-0 and midpoint.
Outlook
Outside week yet close near both midpoints. Potential 3 pushes up on 4 hours points to a pullback down to B-2 provided that Y+1 acting as resistance.
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