Recap Higher low was made with a drift up until 100% absolute range reached. Closed the week near Y+1 and above midpoint.
Outlook Instead of forming a good bottom, ninja was forced back up by external factors including intervention by BOJ. This makes the Y-1 bottom dirty and a retest of that is likely if ninja cannot clear B+1 decisively this week.
Lawrence's Comment
Recap
As mentioned last week - cable was sitting at a tricky area. Instead of a bounce and drop, it simply dropped and cleared 3x previous week range ...
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 28 to Aug 01 Outlook
Lawrence’s Comment
Higher low was made with a drift up until 100% absolute range reached. Closed the week near Y+1 and above midpoint.
Outlook
Instead of forming a good bottom, ninja was forced back up by external factors including intervention by BOJ. This makes the Y-1 bottom dirty and a retest of that is likely if ninja cannot clear B+1 decisively this week.
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