Recap As expected Y-0 area becomes the platform for a run towards Y+2. Paused there for a quick test of Y+1 and then another pop higher. Closed the week near Y+2.
Outlook As noted last week a short term bottom should be in place for ninja. The problem going forward however is that the chart is getting uglier every week. What I mean is that the moves are more sudden and then grind in tight ranged moves.
Hopefully normal volatility will come back to this pair soon once the political issues there quiet down.
Coming week, a break of B-0 points to retest of B-1.
As long as B-0 acts as support, looking for higher prices.
Lawrence's Comment
Recap
Y+1 cleared invalidating the bearish bias. Y+2 tagged quickly right after. Measured target from 4 weeks ago reached by the end of the week. Closed the week above Y+2 ...
Lawrence's Comment
Recap
Took a week to form the bottom and finally rallied back above 1.0.
Outlook
Tough battle for US dollar here.
To form a good bottom from here, US dollar ...
USDJPY Oct 08 to Oct 12 Outlook
Lawrence’s Comment
As expected Y-0 area becomes the platform for a run towards Y+2. Paused there for a quick test of Y+1 and then another pop higher. Closed the week near Y+2.
Outlook
As noted last week a short term bottom should be in place for ninja. The problem going forward however is that the chart is getting uglier every week. What I mean is that the moves are more sudden and then grind in tight ranged moves.
Hopefully normal volatility will come back to this pair soon once the political issues there quiet down.
Coming week, a break of B-0 points to retest of B-1.
As long as B-0 acts as support, looking for higher prices.
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