Recap Early part of the week was an attempt to hold the previous week low (Y-1) area. But we knew that the strong rejection at Y+1 implied the likely push towards Y-2. Target reached in mid-week. End of week shock created a squeeze on the late shorts but that is not enough to push thru previous week midpoint (Y-0).
Outlook Potential w. spring in place as the week low (B-1) was rejected with huge reaction. As long as week midpoint (B-0) acts as support, B+2 is in play. If B-0 failed to act as support, the 200% downside expansion target (Y-3) will be next downside target.
Lawrence's Comment
Recap
A easy week with Dow. Pullback to Y-0. Strong reaction to the support. Cleared Y+1 in one go and Y+2 target mentioned last week was quickly right after. In ...
Lawrence's Comment
Recap
Upside breakout got Y+3 target quickly. Y+3 turned into support and sent this higher. Stop run took over and cleared 1.37. Closed the week above Y+5 and at week ...
Lawrence's Comment
Recap
Inside week with minimal actions. Closed the week near Y-0 and below midpoint.
Outlook
A retest of Y-1 is likely as long as ninja cannot clear B+1. Weekly level ...
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USDJPY Feb 07 to Feb 11 Outlook
Lawrence’s Comment
Early part of the week was an attempt to hold the previous week low (Y-1) area. But we knew that the strong rejection at Y+1 implied the likely push towards Y-2. Target reached in mid-week. End of week shock created a squeeze on the late shorts but that is not enough to push thru previous week midpoint (Y-0).
Outlook
Potential w. spring in place as the week low (B-1) was rejected with huge reaction. As long as week midpoint (B-0) acts as support, B+2 is in play.
If B-0 failed to act as support, the 200% downside expansion target (Y-3) will be next downside target.
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