Recap Weakening of USD across all other majors forced ninja to go sideway. Y-0 test from above confirmed support and Y+1 tagged after. Consolidation since. Closed the week above Y-0 and midpoint.
Outlook Double bottom formation intact but the schedule is tight. It is better for the bullish case to unfold if ninja can move above the swing high over past few weeks quickly. Upside push failing tohold above Y+1 will lead to breakdown play for B-1 and then Y-1.
Lawrence's Comments
Recap
After 3 weeks of consolidation, finally a breakout from tight range. 200% expansion target (Y+3) reached and stalled from there. Closed the week above week midpoint.
Outlook
The upmove ...
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Lawrence's Comment
Recap
Rallied from the support zone mentioned last week and tagged Y+2 and above as expected. Y+3 crime scene tagged and stopped the run up. Closed the week near Y+2 ...
USDJPY Mar 07 to Mar 11 Outlook
Lawrence’s Comment
Weakening of USD across all other majors forced ninja to go sideway. Y-0 test from above confirmed support and Y+1 tagged after. Consolidation since. Closed the week above Y-0 and midpoint.
Outlook
Double bottom formation intact but the schedule is tight. It is better for the bullish case to unfold if ninja can move above the swing high over past few weeks quickly. Upside push failing tohold above Y+1 will lead to breakdown play for B-1 and then Y-1.
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