Recap Text book pullback to Y-0 and rallied to 200% expansion target. Hope everyone who have read the outlook from last week hopped on the train.
Outlook B+1 is target zone for multiple timeframes (daily, weekly, monthly). Thus retracement is expected on this pair. How far it is going to pullback will tell us the strength of this pair. If this coming week it stays at Y+2 or above, another leg taking it higher is expect.
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Lawrence's Comment
Recap
B+1 resistance together with low volume gave us consolidation actions all week. Closed the week near Y+1 and above midpoint.
Outlook
Sideway actions with a weak upside triangle formation ...
USDJPY Feb 14 to Feb 18 Outlook
Lawrence’s Comment
Text book pullback to Y-0 and rallied to 200% expansion target. Hope everyone who have read the outlook from last week hopped on the train.
Outlook
B+1 is target zone for multiple timeframes (daily, weekly, monthly). Thus retracement is expected on this pair. How far it is going to pullback will tell us the strength of this pair. If this coming week it stays at Y+2 or above, another leg taking it higher is expect.
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