Recap As expected no strong directional move with Y-1 and Y-0 boundaries pretty much trapped the price actions all week. NFP led to the sudden swing breaking below Y-1 but it is not confirmed on daily as price snapped back up immediately. Closed the week below Y-0 and above midpoint.
Outlook Still within the previous consolidation range means we have to wait for the daily level breakout again. Strong reaction below Y-1 and 119 means an attempt at the other end B+1 and above is 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
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
Recap of last week Did not mention USDCAD in past few weeks because it is in a tight range consolidation. Not much actions with this pair until the end ...
USDJPY Oct 05 to Oct 09 Outlook
Lawrence’s Comment
As expected no strong directional move with Y-1 and Y-0 boundaries pretty much trapped the price actions all week. NFP led to the sudden swing breaking below Y-1 but it is not confirmed on daily as price snapped back up immediately. Closed the week below Y-0 and above midpoint.
Outlook
Still within the previous consolidation range means we have to wait for the daily level breakout again. Strong reaction below Y-1 and 119 means an attempt at the other end B+1 and above is likely.
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