USDJPY Mar 17 to Mar 21 Outlook

By News Robot

Lawrence’s Comment

Recap
As expected, the range is now bounded by the outside week range. Rejected previous week close, ninja simply falling back down to Y-1. Closed the week near Y-1 and week low.

Outlook
Nikkei weaknesses is one of the driving factor but situation in Ukraine is likely the most important contributing factor. Contrary to what you read in the Western news outlets. Russia this time is the one that followed international law while US violated every UN rules on the book in dealing with the situation.

Inside week. B-0 / Y-0 now strong resistance. Chart patterns suggest more downside likely.

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