Recap Failed to break above previous week close right from the start led to a flush to Y-2 before a bounce can happen. The bounce failed to go above Y-1. Selloff til 100% absolute range expansion is completed and stuck at the bottom part of the range. Closed the week near week low.
Outlook Every news that came out just sent ninja lower and lower. It is now very close to the all critical 78 long term support zone.
Ninja has to hold that on weekly closing basis or the long term bullish view will be invalidated.
Lawrence's Comment
Recap
Drifted lower as expected. Found support at previous spike low and bounced back up to Y-0. Closed the week below Y-0 and above midpoint.
Outlook
The consolidation is likely ...
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
USDJPY Jul 23 to Jul 27 Outlook
Lawrence’s Comment
Failed to break above previous week close right from the start led to a flush to Y-2 before a bounce can happen. The bounce failed to go above Y-1. Selloff til 100% absolute range expansion is completed and stuck at the bottom part of the range. Closed the week near week low.
Outlook
Every news that came out just sent ninja lower and lower. It is now very close to the all critical 78 long term support zone.
Ninja has to hold that on weekly closing basis or the long term bullish view will be invalidated.
Share