USDJPY Jul 29 to Aug 02 Outlook

By News Robot

Lawrence’s Comment

Recap
The bear flag mentioned last time worked out and dropped ninja down to Y-2 where the 98 boundary is. Closed the week below midpoint and below Y-1.

Outlook
2nd leg of the daily level pullback in progress. As long as ninja not giving us an all out breakdown with still play ninja cautiously on the downside.

This week more downside is expected with Y-3 being strong potential reversal zone. A quick flush below Y-2 and snap back up above B-1 on daily close basis will trigger a squeeze back up to at least Y-0.

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