Recap Slided down further and found support at 76 round number area. Rallied by end of the week back up to Y-1 to close the week.
Outlook Need B-0 downto B-1 to act as support, a proper bottom formed in this area should push the pair back up to 77 and eventually challenging Y-0 / B+3 area where the sudden break down started.
Lawrence's Comment
Recap
Reaction at Y+1 gave us the setup for a 1-2-3 long breakout upside setup. Normal breakout target of Y+3 was reached. euro pullback to Y+2 but failed to hold ...
Recap of last week Flush to target red zone 1.31 right off the start of the week. Then a reversal started mid week that retested the original target zone ...
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USDJPY Feb 06 to Feb 10 Outlook
Lawrence’s Comment
Slided down further and found support at 76 round number area. Rallied by end of the week back up to Y-1 to close the week.
Outlook
Need B-0 downto B-1 to act as support, a proper bottom formed in this area should push the pair back up to 77 and eventually challenging Y-0 / B+3 area where the sudden break down started.
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