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
Intervention effect completely washed out in just a few days. Yen closed around Y-1.
Outlook
Complete reversal of a sharp move indicates rejection. The difficult here is that the ...
Lawrence's Comment
Recap
Tagged my downside target of Y-3 in one quick flush. Then bounced back up at once. By end of the week sellers gave up and Ninja moved back up ...
Lawrence's Comment
Recap
Flushed to downside target as mentioned last week and the expected pause started. Sideway actions all week at 50% range. Closed the week near Y-1 and above midpoint.
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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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