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Lawrence’s Comment
Held Y-0 and pushed higher for upside breakout and failed. That lead to a clear break of Y-1 and turning Y-0 into resistance. Closed the week at Y-1 and below midpoint.
Outlook
Both upside target and downside target were not reached. Outside week reversal in place so more downside is expected. Obvious target for now is B-2 as that is also where the melt up move started. That causes a problem as the Japanese government and BOJ want dollar yen to go higher. Not sure if they will intervene heavily to defend the 100 area.
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