USDJPY Oct 06 to Oct 10 Outlook

Recap
Ninja rising wedge into 110 before breaking the support which points at the target of below Y-1. Y-1 reached and 1.08 right below promptly defended it with an all out bounce. Closed the week above Y+1 and midpoint.

Outlook
Outside week up close above previous week range is supposedly bullish. But the way it was done by ninja has used a lot of its fuel to go up which translate to weaken push higher.

Ninja may have to consolidate around week close at 50% range before it can resume its push going higher into the next upside target of 1.12.