Recap Pushed higher early in the week and then pulled back under Y+1. That staged a drop to Y-0. The surprise was that the supposed pullback turned into full break down until 100% absolute range expansion was reached.
Outlook Very odd breakdown due to news shock. Unless price can push back above Y-0 / B-0, short term longs are trapped.
Lawrence's Comment
Recap
This pair just stuck at a tight range all week. The break and flush near end of week did not produce a run as it bounced back up ...
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
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 27 to Aug 31 Outlook
Lawrence’s Comment
Pushed higher early in the week and then pulled back under Y+1. That staged a drop to Y-0. The surprise was that the supposed pullback turned into full break down until 100% absolute range expansion was reached.
Outlook
Very odd breakdown due to news shock. Unless price can push back above Y-0 / B-0, short term longs are trapped.
More weaknesses expected this coming week.
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