Recap Monday price shock failed to force ninja down to Y-2. FBO against Y-1 lead to Y-0 test. Y-0 acted as resistance and sent ninja back down to Y-1. Closed the week above Y+1 and near midpoint.
Outlook The 122 test mentioned some time ago finally completed and proven to be strong support. As long as Y-1 / B-1 zone acting as support ninja up trend intact with retest of B+1 and above likely.
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Lawrence's Comment
Recap
1450 acted as resistance in the beginning of the week and forced a drop back down. Then the sudden reversal back up to Monday high area caught ...
USDJPY Jul 06 to Jul 10 Outlook
Lawrence’s Comment
Monday price shock failed to force ninja down to Y-2. FBO against Y-1 lead to Y-0 test. Y-0 acted as resistance and sent ninja back down to Y-1. Closed the week above Y+1 and near midpoint.
Outlook
The 122 test mentioned some time ago finally completed and proven to be strong support. As long as Y-1 / B-1 zone acting as support ninja up trend intact with retest of B+1 and above likely.
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