Recap As expected, total sideway action all week. slided down to Y-1 and bounced. Pushed thru Y-0 and tried to breakout upside above Y+1 failed. Closed the week near midpoint and Y-0.
Outlook Election on 16th. Not going to touch this pair until it is over.
Chart pattern is consolidation breakout mode. As original direction was up before entering the consolidation, upside breakout has a slight edge over a breakdown.
Lawrence's Comment
Recap
Brexit effect controlling cable all week. FBO Y-1 in the beginning of the week sent cable back up to Y+1. Bull flag on 4 hours pullback to 1.44 round ...
USDJPY Dec 10 to Dec 14 Outlook
Lawrence’s Comment
As expected, total sideway action all week. slided down to Y-1 and bounced. Pushed thru Y-0 and tried to breakout upside above Y+1 failed. Closed the week near midpoint and Y-0.
Outlook
Election on 16th. Not going to touch this pair until it is over.
Chart pattern is consolidation breakout mode. As original direction was up before entering the consolidation, upside breakout has a slight edge over a breakdown.
Share