Recap As expected, not much movement for this pair due the rally made the week before this past week takes some time for the players to digest. The support level mentioned last week holds.
Outlook As long as B-1 acts as support, a retest of B+1 is in order. The more interesting scenario is that upon testing B-0 to Y+1, we get a lower high selloff to break B-1. Should that happens, B-3 is the target.
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
Lawrence's Comment
Recap
Gap down to Y-1 giving us the perfect setup to produce the strong daily bottom mentioned last week. Clean reversal with breakout of Y+1 gave us Y+3 easily. Closed ...
USDJPY Feb 21 to Feb 25 Outlook
Lawrence’s Comment
As expected, not much movement for this pair due the rally made the week before this past week takes some time for the players to digest. The support level mentioned last week holds.
Outlook
As long as B-1 acts as support, a retest of B+1 is in order.
The more interesting scenario is that upon testing B-0 to Y+1, we get a lower high selloff to break B-1. Should that happens, B-3 is the target.
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