Recap Compressed further early in the week leading to clean Breakout to the down side. 100% absolute range expansion stopped the drop. Closed the week below Y-1 and midpoint.
Outlook Y-3 target not tagged yet. Y-1 / B-0 resistance until proven otherwise. Retest of B-1 and tagging Y-3 likely.
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
Lawrence's Comment
Recap
Stayed strong since beginning of the week and zoomed to almost tagging my target of Y+2. Closed the week near Y+1 and midpoint.
Outlook
Last week was a variation of consolidation ...
Lawrence's Comment
Recap
No bounce from Y-1. Re-entered the down channel and collapsed to Y-5 before the pair can find any support at all.
Outlook
Down channel re-enforced itself on the pair again ...
USDJPY Mar 21 to Mar 25 Outlook
Lawrence’s Comment
Compressed further early in the week leading to clean Breakout to the down side. 100% absolute range expansion stopped the drop. Closed the week below Y-1 and midpoint.
Outlook
Y-3 target not tagged yet. Y-1 / B-0 resistance until proven otherwise. Retest of B-1 and tagging Y-3 likely.
Share