Recap We got the pop expected from last week. Tagged resistance zone and stalled. Closed the week at Y-0 and above midpoint.
Outlook Inside week. Holding Y-0 as expected. It is important that ninja take off from B-0 or it will be pressed back down to Y-1 for a retest.
Rally from B-0 points to the prior target of Y+2 still in play. Failing to hold B-0 will make the chart very difficult to read with whiplash potential at B-1 and B+1.
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
As mentioned last week, Y-0 acting as support will start a powerful rally and the target zone was tagged by end of the week.
Outlook
B-0 acting as support, ...
Lawrence's Comment
Recap
FBO (false breakout) early in the week gave us Y-1 as the downside target. That worked out quickly and tagged Y-2 before the pair can find support. ...
USDJPY Aug 19 to Aug 23 Outlook
Lawrence’s Comment
We got the pop expected from last week. Tagged resistance zone and stalled. Closed the week at Y-0 and above midpoint.
Outlook
Inside week. Holding Y-0 as expected. It is important that ninja take off from B-0 or it will be pressed back down to Y-1 for a retest.
Rally from B-0 points to the prior target of Y+2 still in play. Failing to hold B-0 will make the chart very difficult to read with whiplash potential at B-1 and B+1.
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