Recap Start the week with a pullback to Y-0 and bounced off. The pop failed to go higher and broken below Y-0. 1-2-3 sell triggered with Y-1 target in place since then. Flushed lowered later in the week to Y-1 and stopped when 100% absolute range expansion is reached. Closed the week above Y-1 and below midpoint.
Outlook Daily uptrend about to be broken. As long as B-0 acting as resistance a retest of B-1 is likely.
To defend the daily uptrend, this week must hold Y-1.
Lawrence's Comment
Recap
As expected Dow failed to take out Y+1 and sold off back down to Y-0 area. Better yet, completed a measured down move and slided below B-1 with ...
Lawrence's Comment
Recap
Market intervention on high gear. Y-0 cleared, immediate upside target Y+1 tagged and then cleared by force. Only until Y+2 was cleared and that 150% absolute range expansion has ...
USDJPY Nov 12 to Nov 16 Outlook
Lawrence’s Comment
Start the week with a pullback to Y-0 and bounced off. The pop failed to go higher and broken below Y-0. 1-2-3 sell triggered with Y-1 target in place since then. Flushed lowered later in the week to Y-1 and stopped when 100% absolute range expansion is reached. Closed the week above Y-1 and below midpoint.
Outlook
Daily uptrend about to be broken. As long as B-0 acting as resistance a retest of B-1 is likely.
To defend the daily uptrend, this week must hold Y-1.
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