Recap Broken below Y-0 early in the week, points to a push towards Y-1. We got the drop later in the week but Y-1 was not tagged as news shock sent ninja back to Y-0 area at once. Stuck at Y-0 afterwards. Closed the week near Y-0 and midpoint.
Outlook Midpoint at the same area 2 weeks in a row. Inside week. Breakout mode in play. We all know BOJ will intervene if ninja drop back down. That puts B-1 and below into high risk zone for shorts.
Looking for convincing action to jump on the long side.
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
Lawrence's Comment
Recap
Got the upside breakout we are looking for. Closed the week back down at midpoint above Y-0.
Outlook
Need Y-0 to act as support and rally above Y+1 again. ...
Lawrence's Comment
Recap
Y-0 acted as support, breakout to the downside. Y-2 tagged late in the week. Closed the week near Y-2 and week low.
Outlook
Weaknesses continue as expected but not as weak ...
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
USDJPY Oct 15 to Oct 19 Outlook
Lawrence’s Comment
Broken below Y-0 early in the week, points to a push towards Y-1. We got the drop later in the week but Y-1 was not tagged as news shock sent ninja back to Y-0 area at once. Stuck at Y-0 afterwards. Closed the week near Y-0 and midpoint.
Outlook
Midpoint at the same area 2 weeks in a row. Inside week. Breakout mode in play. We all know BOJ will intervene if ninja drop back down. That puts B-1 and below into high risk zone for shorts.
Looking for convincing action to jump on the long side.
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