USDJPY Mar 11 to Mar 15 Outlook

By News Robot

Lawrence’s Comment

Recap
Short squeeze triggered after ninja refused to go below Y-0 at all. Then normal upside expansion to Y+2 before it stopped. Closed the week near week high and below Y+2.

Outlook
I was anticipating a potential squeeze as mentioned last week but I did not join the party as all my focus was on the S&P NFP play. And darn it turned into a beautiful rally.

Another strong range expansion to the upside is in place. There is no sign of weaknesses yet so again not the time to position swing short. Notice ninja is overbought in terms of time, not in terms of price as we did not get range expansion beyond 100% absolute range. Thus coming week is more likely to consolidate with upside bias.

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