Recap Ninja was so strong, it pushed to 122 first in the beginning of the week setting up Y+1 as the consolidation midpoint. Closed the week near Y+1 and midpoint.
Outlook A strong up trend is established with clear support line in place. Breaking below 121 decisively points to Y-0 and B-2 in play. This is normal reaction to the push higher on weekly and monthly, not the marking of a top.
Lawrence's Comment
Recap
As expected stuck within the tight week established over the past several weeks. Closed the week near midpoint.
Outlook
If B-0 acts as support and push for a breakout ...
Lawrence's Comment
Recap
Another eventful week with interventions. Y-1 acted as support sent ninja back to Y-0. Intervention (or "more explanation") did the job and cleared Y-0 resistance. Ninja stalled at the ...
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USDJPY Mar 16 to Mar 20 Outlook
Lawrence’s Comment
Ninja was so strong, it pushed to 122 first in the beginning of the week setting up Y+1 as the consolidation midpoint. Closed the week near Y+1 and midpoint.
Outlook
A strong up trend is established with clear support line in place. Breaking below 121 decisively points to Y-0 and B-2 in play. This is normal reaction to the push higher on weekly and monthly, not the marking of a top.
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