Recap Y-0 resistance gave us test of Y-1 and it was cleared with the added bonus of clearing the support trend line formed over the past 2 weeks. Normal target of Y-2 was tagged. Closed the week near Y-2 and week low.
Outlook Measured down move points to Y-3 target yet it was not tagged last week. If it is taken care of early this week a bounce to B-0 is likely.
Ninja entered weekly timeframe longer term support zone here. Bottom forming in this region in coming weeks will be good for a run to year high.
Lawrence's Comment
Recap
Pullback to Y-0 as expected. Rally from there and printed new high consistent with my bullish bias. Cannot ask for more. Closed the week at week high and above ...
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 Jun 30 to Jul 04 Outlook
Lawrence’s Comment
Y-0 resistance gave us test of Y-1 and it was cleared with the added bonus of clearing the support trend line formed over the past 2 weeks. Normal target of Y-2 was tagged. Closed the week near Y-2 and week low.
Outlook
Measured down move points to Y-3 target yet it was not tagged last week. If it is taken care of early this week a bounce to B-0 is likely.
Ninja entered weekly timeframe longer term support zone here. Bottom forming in this region in coming weeks will be good for a run to year high.
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