Recap Ninja popped higher with upside target tagged as expected. Resistance at Y+3 keeping the range in check. Closed the week near Y+2 and above midpoint.
Outlook Strong resistance at Y+3 /B+1 zone. Big sideway consolidation between B+1 and B-1 likely until weekly and monthly support / resistance line up. Breaking below B-0 points to quick drop to B-1.
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
First test of Y+1 held ninja back. Y-0 acted as support on pullback. 2nd try at Y+1 cleared the resistance. Strong reaction right below 104 sending ninja back down ...
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
No retest of the support trendline. Instead, follow thru with another straight up rally for 4 days in a row. Found resistance near Y+2. Closed the week above midpoint ...
USDJPY May 16 to May 20 Outlook
Lawrence’s Comment
Ninja popped higher with upside target tagged as expected. Resistance at Y+3 keeping the range in check. Closed the week near Y+2 and above midpoint.
Outlook
Strong resistance at Y+3 /B+1 zone. Big sideway consolidation between B+1 and B-1 likely until weekly and monthly support / resistance line up. Breaking below B-0 points to quick drop to B-1.
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